Going ahead with their plans of restarting operations by summer months, Jet Airways has chosen Sanjiv Kapoor, who has headed revenue and strategy departments at SpiceJet and Vistara, to lead the new Jet Airways.
The airline company announced that Sanjiv Kapoor will be the CEO of the company and will join on April 4, 2022.
“I am certain he (Sanjiv) will be able to lead Jet Airways and make it become the most preferred full-service carrier of India. Sanjiv is a seasoned aviation professional who has the right blend and demeanour to stitch a team together.”Murari Lal Jalan, Lead Partner, Jalan-Kalrock Consortium and Proposed Non-Executive Chairman, Jet Airways
Kapoor, who has been the Chief Operating Officer at SpiceJet and Chief Strategy and Commercial Officer at Vistara, resigned as president of Oberoi Hotels on Thursday, March 3.
Jet Airways, which is now promoted by the Jalan Kalrock consortium, had plans to restart operations during the first quarter of 2022 – that seems unlikely and the airline may begin operations by the summer months.
Kapoor would be the second top-level announcement at Jet Airways – the airline recently hired P P Singh as the accountable manager. Singh used to work with Jet Airways earlier and headed JetLite, a subsidiary of Jet Airways.
His appointment to the post also comes days after the airline brought in former Sri Lankan Airlines CEO Vipula Gunatileka as the chief financial officer.
Accepting his role as Jet Airways CEO, Kapoor said, even though the airline has been out of operation for three years, it still has a large fan base of loyal customers who miss it every day and can’t wait for it to take to the skies again.
“Working together with a very strong team of experienced aviation professionals that is being put together by the Jalan-Kalrock Consortium, I look forward to leading the charge in rebuilding Jet Airways into the most preferred customer-oriented airline once again, a people-focused airline for the digital age.”Sanjiv Kapoor, CEO, Jet Airways
Jet Airways already has about 150 employees on its rolls and the airline is also speaking to vendors, including lessors, for the relaunch.
Jet stopped operating in April 2019, burdened under piling losses, debt and dues. It was admitted for insolvency proceedings by the National Company Law Tribunal in June 2019. After two years of a rambling insolvency process, the bankruptcy court approved JKC’s resolution plan in June 2021.
Jet Airways’ flying licence or AOP was made dormant, months after it stopped flying in April 2019 and the airline is in the process of renewing it.
Kapoor, a Wharton MBA, started his airline career with Northwest Airlines (now merged with Delta) in the US in 1997, where he worked in finance and corporate planning.
Kapoor, who had joined SpiceJet from Bangladesh-based GMG Airlines in November 2013, helmed the airline at a time of record-high oil prices and still helped reduction in losses by half and reach 23% market share before the cash crunch resulted in a severe crisis and eventual change of ownership.
At Vistara, Kapoor was responsible for strategy, network, marketing, product development and all other commercial functions, as well as key operating departments such as cabin services, ground services, and the operational control centre, was part of the airline’s growth from 9 to 45 aircraft.