Mar. 4—NEW DELHI — The new promoters of Jet Airways (India) Limited, Jalan-Kalrock consortium, have appointed former Air Vistara chief strategy and commercial officer, Sanjiv Kapoor, as the chief executive officer (CEO) of the airline.
Kapoor, who is currently serving as the president of Oberoi Hotels & Resorts, will be joining Jet Airways from 4 April.
Kapoor, who led SpiceJet through a turnaround during 2014-2015 as chief operating officer steering the airline through a period of high oil prices and a cash crunch, is expected to oversee the revival of Jet Airways under the new ownership.
"I am certain he (Sanjiv) will be able to lead Jet Airways and make it become the most preferred full-service carrier of India," said Murari Lal Jalan, Lead Partner of the Jalan-Kalrock Consortium and proposed Non-Executive Chairman of Jet Airways, in a statement.
"Sanjiv is a seasoned aviation professional who has the right blend and demeanour to stitch a team together," Jalan added.
Jalan-Kalrock consortium had earlier on 23 February announced the appointment of former Sri Lankan Airlines chief executive Vipula Gunatilleka as the chief financial officer (CFO) of Jet Airways (India) Limited.
Gunatilleka, who has joined the airline from 1 March, has been credited for the turnaround of the loss-making national carrier of Angola, TAAG Angola Airlines, where he held the position of CFO and board member.
Jet Airways, which founder Naresh Goyal led for more than 25 years, was grounded on 17 April 2019 after it ran out of cash.
In June 2021, NCLT approved the resolution plan submitted by the Jalan-Kalrock consortium, consisting of UAE-based entrepreneur Murari Lal Jalan and UK-based Kalrock Capital.
The consortium has proposed to pay INR1,183 crores to creditors over five years from the proceeds of the sale of assets and cash flow.
In December, the Jalan-Kalrock consortium said they planned to restart Jet's operations at the earliest with six narrow-body planes this year, after the revalidation of its air operator permit.
To be sure, the consortium has made several periodic announcements since last June about restarting the airline but are yet to do so.
The exit of key executives in charge of the airline's revival has added to the challenges.
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