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Jet Airways CFO Agarwal to be acting CEO

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Jet Airways’ Chief Financial Officer, Amit Agarwal is taking on the responsibility as Acting Chief Executive Officer effective March 1, 2016, the company said.

He will function as Acting Chief Executive Officer in addition to his responsibilities as CFO of the Company, till the appointment of a new CEO.

The company’s last CEO, Cramer Ball, stepped down in December after seeing it through a tumultuous two years.

Agarwal joined Jet Airways in December 2015 and has more than 24 years of experience having held leadership positions in India, Europe and North America.

Naresh Goyal, Chairman, Jet Airways said: “Amit will spearhead the Executive Management Committee of Jet Airways in delivering our strategic objectives. Jet Airways has made demonstrable progress towards achieving long-term sustainable profitability, having recorded three consecutive profitable quarters. Our business performance clearly demonstrates that our efforts are showing positive results.”

Earlier this month, Jet Airways announced record profits of INR 467 crores for the third quarter ending December 31, 2015, providing further evidence of the growing momentum of its turnaround programme.

Jet Airways is India’s premier international airline operating flights to 73 destinations, including 51 in India and 22 across the world. Jet Airways’ robust domestic network in India spans the length and breadth of the country covering metro cities, state capitals and emerging destinations. Beyond India, Jet Airways operates flights to key international destinations in South East Asia, South Asia, Middle East, Europe and North America.

The Jet Airways Group currently operates a fleet of 116 aircraft, comprising Boeing 777-300 ERs, Airbus A330-200/300, Next Generation Boeing 737s and ATR 72-500/600s. With an average age of 6.63 years, it has one of the youngest fleets in the region.

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