Jet Airways chief executive officer-designate Sanjiv Kapoor will be departing the company just a year post joining the grounded carrier. He joined Jet Airways last year in April. His venture as the CEO of the company will come to an end effective on May 1, the conclusion of his notice period.
In a statement released by the consortium trying to save the airline, it said that it would oversee CEO-designate duties until a suitable replacement could be found. In January, the Jet Airways management committee requested that Mr Kapoor refrains from using the title of CEO until a group of lenders had fully acquired ownership of the ailing airline.
Before joining Jet Airways in April 2022, Kapoor had previously worked at Vistara, Spicejet, and Oberoi Hotels, among other places. Hopes that the airline, which last took to the sky in 2019, could soon resume operations are further dashed by his departure.
Mr Kapoor said in a statement, “I am proud to have been part of a fantastic team that came together with JKC to create history by reviving an airline for the first time in India. It is not an ordinary airline we set out to revive – it is Jet Airways, one of the most loved airlines in India for the last 25 years it operated before ceasing operations in 2019″
He further added that although the resumption of operations was not able to occur as planned in 2022, he is proud of the ground-breaking business plan they created and the progress they made. He is a firm believer in the enormous value that full-service carriers like Jet Airways can produce after bankruptcy re-structuring. He also said that he is aware that JKC is fully committed to the revival of Jet Airways and he wishes them the best of luck.
A recovery plan created by a partnership between Murari Lal Jalan, located in Dubai, and Kalrock Capital, currently known as JKC, a British company, was authorised by the airline’s committee of creditors in October 2020. The airline has not flown since April 2019 as a result of financial issues.
Also Read: Major Boost for Hydro Energy: 3,110 MW Hydro Power Units to Launch This Fiscal Year
Iran's Supreme National Security Council (SNSC) has issued a stern warning, stating that Iran will…
PM Narendra Modi on Tuesday marked the 11-year journey of defence reforms in India by…
The Meghalaya Police have brought Sonam Raghuvanshi, the prime accused in the murder of her…
Chief Justice of India (CJI) BR Gavai said that access to justice through technology can…
Signaling deeper ties with the Mediterranean, PM Modi may briefly stop in Cyprus en route…
The NMACC will make its global debut with the first edition of ‘India Weekend’ in…