Jet Airways CEO steps down
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India’s Jet Airways has announced the resignation of its CEO, Nikos Kardassis, less than two months after the carrier agreed to sell a stake to Abu Dhabi’s Etihad Airways, Bloomberg has reported.
Chief operating officer Hameed Ali will lead the airline until the board identifies a new chief executive, Jet said. The new CEO faces a challenge to end six years of losses and pare debt at Jet Airways, as competition in India is set to intensify with the entry of AirAsia. “The timing of Nikos’s exit is a concern,” said Mark D Martin, CEO of Dubai-based Martin Consulting that advises airlines. “The challenge for whoever succeeds him will be to manage the interests of both Jet and Etihad at the board level and the business objectives.”
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