Jet Airways announces appointment of two directors, CFO

Grounded Jet Airways on July 20 announced the appointment of two whole-time directors and a non-executive director. As per the regulatory filing, Sundaram Ramesh has been appointed as a Whole-Time Director and Chief Financial Officer, Gautam Acharya as a Whole-Time Director and Rajesh Prasad as a Non-Executive Director.

The appointments, with effect from Thursday, have been approved by the airline's Monitoring Committee.

The appointments have been made "for the purpose of ensuring compliance with applicable laws, to execute and make filings with the Registrar of Companies and assist in implementation of the resolution plan", as per the filing.

Ramesh has more than 40 years experience in finance, accounts and taxation, custom, among other areas. Prasad, who has around 40 years of diversified experience, had joined Jet Airways in July 2018 as its Chief Strategy Officer and played an important role in the resolution process working alongside the Resolution Professional.

While Acharya is an aviation professional having specialised in commercial aviation for the last 20 years, the filing said. His work experience spans three continents, having worked in Canada, the UK, Sweden, Hong Kong and India. For the last 15 years he has been with Jet Airways (India) Limited and has managed multiple portfolios ranging from aircraft leasing and contracts to regulatory affairs to law.

After flying for more than 25 years, the once-storied Jet Airways stopped flying in April 2019 due to financial woes. Later, it went into an insolvency resolution process and the Jalan Kalrock Consortium (JKC) emerged as the winning bidder.

The consortium's resolution plan was approved by the National Company Law Tribunal (NCLT) in June 2021. However, the ownership transfer process has been facing headwinds for long.

In April this year, Jet Airways' CEO-Designate Sanjiv Kapoor had quit and it followed a string of senior executives leaving the grounded carrier.

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