Mumbai: Jet Airways, India's second-largest airline by market share, is seeing changes in its C-suite following the resignation of Chief Commercial Officer Raj Sivakumar. Besides commercial operations, the airline is also bringing in two key executives for marketing and finance roles.
Jet Airways has not had a full-time chief financial officer (CFO) since May 2014; Ravichandran Narayan has been the acting CFO. Sources say a former finance head of a renewable energy company could be named the airline's full-time CFO. The appointment for the marketing position will be that of Colin Neubronner, who formerly was vice-president (marketing) at Qatar Airways.
These changes come at a time when the airline is in the process of implementing its three-year turnaround plan. In April 2013, Abu Dhabi-based Etihad Airways had taken a 24 per cent stake in the airline for Rs 2,057 crore; the transaction was completed in November of that year. While Jet was able to halve its standalone loss to Rs 1,813 crore by the end of March 2015, the recovery was slow and profitability elusive.
Read news in full 08/08/15 Aneesh Phad/Business Standardnis
Jet Airways has not had a full-time chief financial officer (CFO) since May 2014; Ravichandran Narayan has been the acting CFO. Sources say a former finance head of a renewable energy company could be named the airline's full-time CFO. The appointment for the marketing position will be that of Colin Neubronner, who formerly was vice-president (marketing) at Qatar Airways.
These changes come at a time when the airline is in the process of implementing its three-year turnaround plan. In April 2013, Abu Dhabi-based Etihad Airways had taken a 24 per cent stake in the airline for Rs 2,057 crore; the transaction was completed in November of that year. While Jet was able to halve its standalone loss to Rs 1,813 crore by the end of March 2015, the recovery was slow and profitability elusive.
Read news in full 08/08/15 Aneesh Phad/Business Standardnis
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