Jet Airways CEO Nikos Kardassis steps down

07 Jun 2013


Jet Airways chief executive officer Nikos Kardassis has resigned as part of a rejig at the top management after Abu Dhabi carrier Etihad bought stake in the Naresh Goyal-led airline.

Chief operating officer Capt Hameed Ali has taken over as the interim chief executive, the airline said in a filing with the Bombay Stock Exchange (BSE) today.

Kardassis resigned on 5 June 2013, after a second five-year stint with the company, the airline said.

Capt Hameed Ali, who is chief operating officer of the company, will be the 'acting CEO' till the board identifies and appoints a new CEO, Jet Airways said in its stock market filing.

Ali has been with Jet Airways since October 2007 when he joined as executive vice president – operations and engineering.

''The board recognises the significant contributions made by Kardassis over five years to enable the company to secure its leadership position in the aviation industry and greatly appreciates his efforts,'' Jet Airways said in a statement.

Kardassis, who replaced Wolfgang Prock-Schauer as CEO of Jet Airways, earlier headed its US operations as senior vice president.

Hamid Ali, a Bahraini national, was involved in the signing of the deal with Etihad in April. Kardassis has been on medical leave since April.

Etihad has agreed to pick up 24 per cent in Jet Airways for about Rs2,060 crore. The deal is currently awaiting regulatory nod.

Once cleared by the Foreign Investment Promotion Board next week, Etihad will also get three management positions on Jet Airway's board.

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