Kingfisher Airlines Executive VP Rajesh Verma Quits

Rajesh Verma has resigned as executive vice-president of the grounded Kingfisher Airlines Ltd, said two company executives who didn't want to be named


Jan. 27--MUMBAI -- Rajesh Verma has resigned as executive vice-president of the grounded Kingfisher Airlines Ltd, said two company executives who didn't want to be named.

It's not clear whether the management has accepted his resignation. Mint could not immediately contact Verma. Kingfisher Airlines spokesperson didn't offer any comment.

"Verma is heading to a Delhi-based healthcare firm," said one of the people cited earlier.

Verma is one of the company's longest-serving employees and had been associated with grounded airline since June 2006. He was instrumental in setting up a training institute for the airline to train cabin crew and other service staff. He was overseeing the Kingfisher Training and Aviation Services Ltd as chief mentor.

Verma was vice-president of customer and in-flight services at Jet Airways (India) Ltd before joining Kingfisher Airlines.

In May, Hitesh Patel resigned as executive vice-president of Kingfisher Airlines. Patel was a key member of the start-up team responsible for the certification of Kingfisher Airlines in 2005, having joined in August 2004.

With Verma's exit, only A. Raghunathan, chief financial officer, is left in a top position at Kingfisher.

The operating permit of the airline promoted by Vijay Mallya was suspended in October 2012 by regulator Directorate General of Civil Aviation (DGCA), following a strike by the airline's employees. The licence has since expired, although it can be renewed within two years.

Kingfisher Airlines has never made a profit since its inception in 2005.

Kingfisher Airlines' lenders, including State Bank of India (SBI), have started monetizing the collateral to recover their dues by selling pledged shares held in various UB Group companies and selling the headquarters of the airline.

Copyright 2014 - Mint, New Delhi

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