Jet Airways' CEO-designate Sanjiv Kapoor steps down

Mumbai, April 28

A little over a year after coming on Board to revive Jet Airways, the airline’s CEO-designate Sanjiv Kapoor has put in his papers. A source said Kapoor’s last working day at the grounded airline was Friday.

The once-storied carrier stopped flying in April 2019 and later the Jalan-Kalrock consortium emerged as the winning bidder through an insolvency resolution process, but the ownership transfer is yet to happen. Kapoor joined the airline as the CEO in April last year. There was no immediate comment from Kapoor.

On March 20, Kapoor said the new management does not want to be “in a rush” to restart the operations of Jet Airways.

Speaking at a conference in the national capital, he had also said the journey is a marathon, and not a sprint.

Amid continuing differences between the lenders and the consortium, the ownership of the airline is yet to be transferred to the winning bidder. Against this backdrop, the Jalan-Kalrock consortium, on January 2, said Kapoor will remain the CEO-designate of the company till the airline’s ownership is transferred to the consortium by the lenders.