"Jet Airways (India) Ltd. (JETIN) said its Chief Executive Officer Nikos Kardassis resigned, less than two months after the carrier agreed to sell a stake to Etihad Airways PJSC.
Chief Operating Officer Hameed Ali will lead the airline until the board identifies a new chief executive, the Mumbai-based company said in a stock exchange filing yesterday. Kardassis, who became CEO of the carrier for a second time in October 2009, resigned with effect from June 5.
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 Bhd (AIRA), the region’s biggest discount carrier. Chairman Naresh Goyal in April agreed to sell a 24 percent stake to Abu Dhabi’s Etihad as he seeks funds needed to pay for expansion."
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