Sources said the CEO-designate of grounded airlines Jet Airways Sanjeev Kapoor quit the airline. His last day in office was today, April 28, 2023. The aviation veteran had joined Jet Airways as their Chief Executive Officer (CEO) on April 4, 2022.
An email requesting comment has been sent to the airline. Story will be updated with response.
Earlier in January this year, the airline, which ceased operations in 2019, had announced that Sanjeev Kapoor would continue as CEO of the company till the airline’s ownership is transferred to a consortium of Dubai-based Murari Lal Jalan and UK’s Kalrock Capital. But will remain. by lenders.
The consortium had announced in March 2022 the appointment of Sanjeev Kapoor as the CEO of the airline with effect from April 4, 2022.
An earlier report by CNBCTV18 mentioned that Kapoor was asked to refrain from using the title Jet Airways CEOI by Ashish Chawchharia, the then resolution professional and head of the Jet Airways Management Committee.
Kapoor Reportedly in February this year, the telecom major had requested Vodafone not to repeatedly call him, ‘persuade me not to switch carriers’.
An alumnus of La Martiniere School in Kolkata, with an MBA from Wharton (University of Pennsylvania) continues to be Chief Strategy and Commercial Officer at Vistara where he oversaw strategy, marketing, network planning and other functions.
Controversy over Jet Airways CEO post
The Jalan-Kalrock consortium and resolution professional Ashish Chawchharia had earlier locked horns about Sanjeev Kapur retaining the CEO designation.
While the latter objected to the decision citing the fact that the ownership of the airline has still not been transferred to the winning bidder, the Jalan-Kalrock consortium.
The monitoring committee had said in a letter dated 28 December 2022 that Kapoor’s tenure as CEO of the airline His appointment will begin only after the approval is given and the transfer of ownership is completed, it said, adding that till the transfer, the monitoring committee is looking after the airline.
However, in January 2023, the consortium clarified that Kapoor, as the designated CEO of Jet Airways, did not require further approval from any statutory authority.
jet airways revival plan
in march then Jet Airways CEO-designate Sanjeev Kapoor had said that the new management did not want to be “in a rush” to resume operations, while claiming that the airline would be unique and different.
The airline’s ownership transfer under the insolvency resolution plan is facing hurdles over differences between the winning bidders and lenders.
In October 2020, the airline’s Committee of Creditors (CoC) approved the revival plan submitted by the Dubai-based consortium of Murari Lal Jalan and UK’s Calrock Capital, The consortium’s bid was approved in June 2021 under the insolvency resolution process.
However, the implementation of the scheme is getting delayed.
The airline’s air operator certificate was revalidated by aviation safety regulator DGCA in May 2022, following which it announced its plans to begin operations in September 2022, but later pushed back the launch date again.
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