Mar 4, 2022
By: kritti.bhalla@timesinternet.in
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Sanjiv Kapoor has been appointed as the new chief executive officer (CEO) of Jet Airways 2.0. He has previously served as the chief strategy and commercial officer at Vistara, and the chief operating officer (COO) at SpiceJet.
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Sanjiv Kapoor has been appointed as the new chief executive officer (CEO) of Jet Airways 2.0. He has previously served as the chief strategy and commercial officer at Vistara, and the chief operating officer (COO) at SpiceJet.
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Sanjiv Kapoor is currently the president of the Oberoi Hotels and Resorts group. He will take over his new role from April 4, 2022.
Credit: Oberoi Hotels
“I am looking forward to getting back to aviation, an industry I am passionate about, with Jet Airways, one of the warmest, classiest and most loved brands to have graced Indian aviation,” Sanjeev Kapoor said.
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Kapoor started his aviation career with Northwest Airlines, which is now merged with Delta, in the United States in 1997. He worked in the finance and corporate planning vertical there before joining Bain and Company in 2004.
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“I am certain he will be able to lead Jet Airways and make it become the most preferred full-service carrier of India/Sanjiv [Kapoor] is a seasoned aviation professional,” Murari Lal Jalan, lead partner of the Jalan-Kalrock consortium and proposed non-executive chairperson of Jet Airways, said.
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It is important to note that Jet Airways has been out of operations for the last three years since April 17, 2019 due to mounting debts and the inability of the promoters — Naresh Goyal and Etihad Airways — to put more capital in the company.
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The National Company Law Tribunal (NCLT), in June 2021, had cleared the resolution plan submitted by Kalrock-Jalan Consortium to restart the airlines. The company proposed to invest ₹600 crore to repay creditors to acquire about 90% stake in the carrier.
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In March 2021, the ministry of civil aviation was unwilling to hand over Jet Airways’ airport time for arrival/departure to the new entity. The department had also made such submissions to NCLT.
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Jet Airways had about 700 time slots that allowed it to land/depart from airports like Mumbai and Delhi.
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