Wadia group-owned no-frills airline GoAir on Monday stated that its managing director Jeh Wadia has stepped down from the place. The airline, nonetheless, stated that Wadia will proceed as a promoter.
The airline additionally introduced the appointment of aviation business veteran Ben Baldanz as the vice chairman at a time when the corporate is reportedly trying to increase capital from public buyers.
Baldanz has been an advisor to the corporate since 2018 and director since 2019.
“With the objective of taking GoAir to its subsequent section of development, the promoters of the corporate and its board got here collectively to formulate a long-term plan.
“Amongst other initiatives, a key element of this plan, forged over weeks of discussions and consultation, was to further strengthen the management of the company by bringing on-board proven industry professionals, a strategy that has worked well for the group in its other ventures including Britannia,” GoAir stated.
Implementation of this plan commenced with the appointment of Baldanza as vice chairman whereas Jeh Wadia, a part of the promoter household, has stepped down from his place of managing director, it stated.
Baldanza as vice chairman will now work straight with the administration staff, comprising Kaushik Khona, chief govt officer, and Pankaj Chaturvedi, chief monetary officer, within the subsequent development section of GoAir into making it India’s first extremely low-cost provider (ULCC), the airline stated.
“We are comfortable that Ben has accepted the place of vice chairman.
His expertise in creating the primary ULCC within the US, turning it worthwhile and efficiently main its IPO are of nice worth, as GoAir embarks on the subsequent section of its development journey, stated Nusli Wadia, Chairman, GoAir.
Baldanza is an airline business veteran of a number of a long time, having labored in American Airlines, Northwest Airlines, Continental Airlines amongst others, earlier than changing into the CEO of Spirit Airlines in 2006.
He efficiently repositioned Spirit Airlines into the primary ULCC within the North Americas and elevated its fleet from 32 to 100, Go Air stated within the assertion, including as a results of his efforts, Spirit Airline achieved the best profitability amongst all Airlines within the US between 2008 and2015.
He additionally took the corporate public by efficiently main its IPO in 2011, it stated.
“I am excited to be part of GoAir’s next stage of journey. This gives me the opportunity to apply my years of airline experience in the vibrant and fast-growing market of India to create enduring value for all stakeholders,” Baldanza stated on his appointment to the brand new place in GoAir.