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Wednesday, April 24, 2024

Jet Airways Faces Uncertain Future? CEO-Designate Sanjiv Kapoor Steps Down

People with intimate knowledge of the situation revealed that Sanjiv Kapoor, Jet Airways CEO-designate, had quit the organisation after only one year with the grounded airline.

In April of last year, Mr. Kapoor started working for Jet Airways. His final day with the firm was today, according to those with knowledge of the situation.

The management team of Jet Airways requested in January that Mr. Kapoor refrains from using the title of Chief Executive Officer until the ailing airline’s ownership was fully transferred to a group of lenders.

He held that position till he left the airline. The Murari Lal Jalan group and the UK’s Kalrock Capital submitted a recovery plan for the airline in October 2020, and the committee of creditors gave its approval in November 2020.

Due to financial issues, the airline has not operated since April 2019.

Newsdesk

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