BENGALURU: Amid growing scepticism over Jet Airways’ revival, its new CEO Sanjiv Kapoor has been barred by the Monitoring Committee from representing the airline. The Committee has reportedly objected to the ‘CEO’ designation of Kapoor and asked the aviation veteran to not make any statements on behalf of Jet Airway.
“Sanjiv Kapoor was appointed by Jalan Karlock Consortium (JKC) as the designated CEO of the to-be revived Jet Airways in April 2022, after agreement and clearance from all relevant stakeholders. The Monitoring Committee has equal representation from the JKC and the erstwhile creditors of Jet Airways. As a US citizen, Kapoor also received the required security clearance from the Ministry of Civil Aviation and Ministry of Home Affairs earlier in 2022,” said Spokesperson, JKC.
The spokesperson added that until the ownership of Jet Airways is transferred to JKC, Kapoor remains CEO-Designate and his mandate is to lead ‘Jet 2.0’ post-handover, and he has been focused on the preparation for that. The NCLT-appointed resolution professional of Jet Airways, Ashish Chhawchharia, has asked the airline not use the ‘CEO’ designation till the new owners- the Jalan Kalrock Consortium- gets the ownership of the airline.
The fresh development comes at a time when the ongoing tension between the JKC and Jet Airways’ lenders over the transfer of the airline’s ownership has raised questions on the survival of the brand. In March 2022, JKC had announced the appointment of Kapoor as its CEO. Kapoor was previously associated with Vistara and SpiceJet.
Post taking the charge, Kapoor had said launching flight operations by October 2022. Add to it, workers of Jet Airways have been demanding to clear their dues and one partner in the consortium is facing investigation by regulatory agencies in Europe. The JKC, a partnership of UAE-based businessmen Murari Lal Jalan and Fritsch of Kalrock Capital, had won the bid for Jet Airways way back in October 2020.