Jet Airways Appoints New CEO, Likely to Begin Operations in Summer; Shares Rise

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Jet Airways Appoints New CEO, Likely to Begin Operations in Summer; Shares Rise
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Once a celebrated airline company, Jet Airways (NS: JET ) is likely to start operations this summer and has appointed aviation veteran Sanjiv Kapoor as its chief executive officer, with effect from March 4, 2022.

Currently serving as the President of Oberoi Hotels & Resorts, he has worked as a chief strategist and management consultant for airline companies in the US, Europe and Asia. 

This announcement from Jet Airways comes weeks after the former Indian Air Force squadron leader PP Singh was appointed as the airline’s new accountable manager, and Vipula Gunatileka, the former CEO of Sri Lankan Airlines as its CFO.

From 2016-2019, Sanjiv Kapoor served as the chief strategy and commercial officer at Vistara, growing its base from 9 airplanes to 38, and 40 flights/day to 200/day.

Before that, he was the COO and de facto CEO of SpiceJet from 2013-2015, managing the airline through a period of record-high oil prices and a cash crunch, as per news reports.

Kapoor has been in the travel industry for over 20 years.

Jet Airways could start operating this summer, after a break of 3 years from Apr 2019, when it had to shut down its operations due to a severe financial crisis.

Shares of the airline company are trading 5% higher at Rs 81.9 apiece, outperforming industry peers IndiGo (NS: INGL ) and Spicejet (BO: SPJT ).

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