SpiceJet CEO: Management yet to accept resignation, say sources

Mumbai: SpiceJet Chief Executive Niel Mills has put in his papers 18 months before his contract was to end, but the management is yet to accept his resignation, sources familiar with the development said on Wednesday.

Mills is the third CEO for the Chennai-based private carrier in the past five years. Mills could not be reached for comments.
The resignation comes amidst reports that the Kalanthi Maran-owned airline is planing to raise funds, including through strategic investors, to cope with increased competition. Sources also said the management is yet to accept Mill's resignation.
A spokesperson of the low-cost airline refused to confirm or deny the development, saying they do not respond to market speculation.
The industry was abuzz with rumours that promoters were upset with the poor earnings in the last fiscal when SpiceJet reported a loss of Rs 191 crore, which they blamed on the cheap ticket scheme Mills has offered in January.
Read news in full 24/07/13 PTI/IBN Live

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