Jet Airways CEO-designate Sanjeev Kapoor resigns

New Delhi (Best Hindu News): Jet Airways CEO-designate Sanjeev Kapoor has quit the airline and will step down from May 1 after serving his notice period. Jalan Kalrock Consortium (JKC) gave this information on Friday. The consortium announced, “JKC remains fully committed to the revival of Jet Airways and for the time being, the Executive Committee of JKC will oversee the responsibilities of the CEO-designate. ,
The consortium had roped in Kapoor, a veteran of the sector, about a year ago as part of its efforts to revive the airline after the National Company Law Tribunal (NCLT) approved its resolution plan under the Insolvency and Bankruptcy Code (IBC). Had taken
Sanjeev Kapoor joined Jet Airways in April 2022 to revive the airline. However, the revival of Jet Airways has taken longer than originally anticipated. JKC states that the transfer of ownership of Jet Airways to JKC is currently underway and thereafter the dues due to previous creditors will be settled.

JKC Board Member Ankit Jalan said, “The revival of Jet Airways is through a court-approved process, which has taken longer than we had originally anticipated, but needless to say, JKC is not a part of Jet Airways. committed to revival.
“We are in the final stages of completing the transfer of ownership of Jet Airways to JKC, following which we will settle dues to previous creditors as per our approved resolution plan and, shortly thereafter, recommencement of commercial operations of Jet Airways .