Jet posts P.P. Singh as accountable mgr to take Gaur’s place
Premium- Singh had earlier held several top positions at Jet Airways between 1999 and 2019, which included operations manager, chief pilot, and vice president - regulatory affairs
NEW DELHI : Jet Airways (India) Limited on Thursday said it has appointed captain PP Singh, former Indian Air Force (IAF) squadron leader and Nepal Airlines Corporation executive as its new accountable manager, replacing Sudhir Gaur.
Singh had earlier held several top positions at Jet Airways between 1999 and 2019, which included operations manager, chief pilot, and vice president - regulatory affairs.
The company said that its monitoring committee, which is overseeing the airline's day-to-day operations and management, has given "in-principle" approval to the appointment, it said in a stock exchange notification.
Mint had earlier reported that Sudhir Gaur, who was leading the efforts for the airline's revival, has resigned from the airline even before it could take to the skies under its new promoters.
On Thursday, Jet Airways said that the company has not yet appointed its chief executive officer (CEO) and that Sudhir Gaur did not hold the position of “Interim CEO" of the company contrary to a 13 September media statement quoting Gaur as the airline's "new Accountable Manager and acting CEO".
In the statement, Guar had said that "The team at Jet Airways is committed to ensure that Jet Airways will restart its operations with its first flight from New Delhi to Mumbai by Q1 2022."
Copies of both the stock exchange notification and 13 September media statement have been reviewed by Mint.
Jet Airways, which was led by founder Naresh Goyal for over 25 years, was grounded on 17 April 2019 as it ran out of cash. Last June, the National Company Law Tribunal (NCLT) approved the insolvency resolution plan submitted by a consortium comprising of UAE-based entrepreneur Murari Lal Jalan and British investor Kalrock Capital Management paving the way for the revival of the airline. It must, however, be noted that the resumption of Jet Airways’ operations has been delayed several times despite periodic announcements by the new promoters.
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As things stand, the consortium is yet to make the payments as per the approved resolution plan.
Though, in a statement last month the consortium said that it wants to commence payment towards all stakeholders, including ex-employees, ticket claimants, and lenders of Jet Airways, as per the plan approved by the NCLT.
Jalan-Kalrock consortium has proposed to pay ₹1,183 crore to creditors over five years from the proceeds of the sale of assets and cash flow. It has also outlined a plan to invest ₹600 crore for the first two years to repay creditors.
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