Jet Airways has appointed three directors to its board – including naming a new chief financial officer – but has not disclosed a new airline chief.
In a stock exchange filing dated 20 July, Jet – whose relaunch has been beset by delays – appointed two former company veterans to its board: Gautam Acharya, who was a vice president at the airline prior to its closure, as well as Rajesh Prasad, who was the airline’s strategy chief in 2018.
Jet also appointed Sundaram Ramesh as director and chief financial officer. In its brief profile, Jet does not disclose where Ramesh previously worked, except to say that he has over 40 years of experience in the finance sector.
The board appointments are effective for a three-month period from 20 July. Among other responsibilities, the three men will help in “ensuring compliance with applicable laws”, as well as to execute and make regulatory filings.
Jet has not named who its new CEO would be, after the abrupt resignation of previous CEO-designate Sanjiv Kapoor in early May. At the time, Jet parent Jalan-Kalrock Consortium said a new leader would be announced, but there have no updates since.
Debt-laden Jet collapsed in 2019 – as the country’s largest privately-owned carrier – after running out of cash. A resolution plan from new owners Murari Lal Jalan and Kalrock Capital received court approval in June 2021, and Jet clinched its its air operator certificate from Indian regulators in May 2022.
Jet previously disclosed plans to relaunch in the third quarter of 2022, but by November had yet to take off, amid reports of a legal wrangle between the airline’s new owners and creditors over the revival plan – a move that could yet derail Jet’s return.
