Jet Airways CEO Kardassis quits

Private air carrier Jet Airways said their chief executive Nikos Kardassis has resigned and chief operating officer Capt Hameed Ali has been appointed as an interim chief executive till the board gets a suitable candidate.

Even as the news of Kardassis on his way out was in the realm of speculation consequent to the Naresh Goyal-led airline clinching a deal to sell 24 per cent stake with the Abu Dhabi-based Etihad Airways for Rs 2,042 crore, the company was not forthcoming with reasons for his exit. 

Industry grapevine talk was that Etihad reportedly demanded a change in the management under the deal, including removal of Goel's wife from the airline's board. Under the sale agreement, the terms of which are being reworked following Sebi's objections, the Arab carrier will get three board members, including the CEO.

Kardassis returned to Jet on October 15, 2009 as acting CEO after Wolfgang Prock-Schauer quit, and was appointed CEO from May 20, 2010.  His first term with Jet started in 1994 and lasted till 1999.

In a related development, Jet Airways informed that it has sought civil aviation ministry nod for code sharing with Abu Dhabi's Etihad Airways on flights to Africa, Europe and the US. Separately, the airline has also sought permission to code share with Virgin Atlantic on its new domestic routes in Britain.