SpiceJet has appointed Sanjiv Kapoor, aviation consultant and ex-CEO of a Bangladesh airline as its chief operating officer three months after its chief executive Neil Mills quit the airline.
Kapoor, who has previously worked with Bain and Company and Temasek Holdings in aviation practice is said to be an expert in mergers and acquisitions and turn around strategy. He joins the Sun-group airline as it faces head winds.
Last year SpiceJet posted Rs 191 crore loss and is likely to announce a huge second quarter loss. Kapoor's role could be crucial as the airline is in talks with airlines and financial investors to raise funds.
Prior to joining SpiceJet, Kapoor worked as a chief executive officer at GMG airlines in Bangladesh and was working on its turn around plan before the airline shut operations because of financial difficulties.
SpiceJet's statement to the Bombay Stock Exchange said that Kapoor led initiatives towards productivity improvement, cost control, customer satisfaction and and service quality.
Kapoor's LinkedIn profile says GMG airlines under him reduced cash burn by 30% and on time performance improved from 50% to 87%. He holds a MBA and an under graduate degree in computer science from the USA and is a native of Kolkata.
Centre for Asia Pacific Aviation in its recent report had observed that absence of senior leadership in airline could impact the future of the airline and jeopardise the prospects of getting a serious investor.
