 "Amar Abrol")
Loss-making budget airline AirAsia India said on Thursday it has appointed a new chief executive officer as the carrier seeks to boost its market share and turn profitable. The airline, part-owned by Malaysian carrier AirAsia Bhd and Tata Sons, stated that former American Express executive Amar Abrol will take over from Mittu Chandilya, who will step down at the end of this month after almost three years in the job.
Abrol was most recently the CEO of a financial products start-up after spending 19 years at American Express. The airline, which has struggled to make money since it launched in mid-2014, also announced the appointment of former Air France KLM executive Ankur Khanna as chief financial officer, and Kiran Jain as its head of commercial operations.
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Abrol has no experience in the aviation industry and is the CEO of Tune Money — a start-up owned by Tony Fernandes. “I look forward to leading the team and giving many more Indians the opportunity to access the exciting promise of Indian civil aviation,” he said.
“Mittu Chandilya led the airline team from the front through its launch and establishment in an intensely competitive market. The Board deeply appreciates his contribution. In Amar Abrol, we have a strong successor, with years of experience in customer delivery, which will be critical to the airline’s future. Together, with his senior management team, we are confident that Amar will lead AirAsia India into its next stage of growth,” said S Ramadorai, chairman, Air Asia India.
Interestingly, while Chandilya’s appointment was announced by Tony Fernandes, CEO of Air Asia Bhd, the latest press release has no comments from him.
After initial euphoria, AirAsia India has been unable to make its mark amid slow growth and continuous losses at a time when fuel is cheap. The airline has also seen several senior-level exits earlier last year.
In December, Arun Bhatia, who owns 10 per cent in AirAsia India, threatened to go to court alleging that the airline was being controlled by Malaysian shareholders.
The airline’s chairperson S Ramadorai had then denied the allegations and said that there was no violation of Indian laws by the airline.
While the aviation industry was rife with speculations about Chandilya’s resignation, Tony Fernandes, CEO of AirAsia denied the news till Wednesday.
AirAsia India competes with IndiGo, SpiceJet and GoAir in India’s fast-growing air travel market, operating six aircraft covering 12 routes. Its market share stood at 2.3 percent in January, official data shows, ranking it sixth among India’s airlines.
FACTFILE
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Amar Abrol, has over 20 years of experience
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Was the CEO of Tune Money, a start-up owned by Tony Fernandes, CEO of Air Asia BHD
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Before joining Tune Money in 2013, he spent 19 years with American Express
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Born and raised in India, Abrol graduated from Delhi University and is a Chartered Accountant from the Institute of Chartered Accountants of India
- Like his predecessor, Abrol has no experience in the aviation industry
