Final Blow To Kingfisher Airlines As Its CEO Sanjay Aggarwal Quits

Kingfisher Airlines launched in 2005 and was grounded in October 2012. Seems line Kingfisher Airlines cannot get a break. As a final blow to the Airline’s top management, its CEO Sanjay Aggarwal has put in his papers and is moving on from the company. Aggarwal was getting a hefty pay package of Rs 4 crores, even after the operations of the ill fated airlines had stopped in 2012.

Sanjay had joined Kingfisher group in September 2010 and took charge of the then high-flying airlines under Vijay Mallya. He was introduced to the Kingfisher Airlines business to grow the network and bring the Indian air operator back to profit. However, nothing of such sort happened. Before his stint at Kingfisher he was in-charge of Spicejet low-cost carrier in India.

Kingfisher Airlines has posted losses of over Rs 820 crores ending December 2013 and one has not seen any steps from the group to resolve the situation in any manner. It almost looks like UB group and its chairman, Vijay Mallya, have given up on the dream to fly its jets again in the Indian and international skies.

Image: Wikipedia