Jet Airways, which faced financial troubles and was grounded in April 2019, has taken a significant step toward its revival. In a recent regulatory filing, the airline announced the appointment of key leadership positions. Sundaram Ramesh has been designated as the Whole Time Director and Chief Financial Officer, bringing with him over 40 years of expertise in finance and taxation. Joining him is Gautam Acharya, an aviation specialist with 20 years of experience in commercial aviation, also appointed as a Whole Time Director. Additionally, Rajesh Prasad, with around 40 years of diverse experience, joins as a Non-Executive Director.
These appointments, approved by the airline’s monitoring committee, aim to ensure compliance with relevant laws, facilitate filings with the Registrar of Companies, and support the implementation of the resolution plan. Jet Airways, which was grounded for over two years, faced further challenges with the resignation of its CEO-Designate and the departure of other senior executives. The Jalan Kalrock Consortium emerged as the winning bidder in the insolvency resolution process in June 2021, but ownership transfer delays have affected the airline’s share prices. With these new appointments, Jet Airways aims to strengthen its leadership team and navigate through ongoing challenges to regain its position in the aviation industry.