Jet Airways CEO quits, Etihad starts to flex muscle

The Jet Airways alliance with Etihad is quietly taking shape, with Jet Airways & Etihad awaiting approval from the Indian Government to take the deal forward. Jet Airways has already restructured its equity capital to be ready for the Etihad investment for 24% equity stake.

The cooperation between the two airlines is already beginning to take shape, however. Jet Airways has asked for newer codeshare arrangements, to market Etihad flights to European cities such as Dusseldorf, Frankfurt, Munich, Milan, Geneva, Istanbul and Dublin. They have also sought permission to codeshare on flights to Nairobi, Johannesburg and cities in the USA.

On the other hand, however, Etihad is gunning for top management changes to make sure Jet Airways is fit and fine for its next big leap. The arrangement between both parties included Etihad’s right to bring in three new board members, including a new CEO.

As per the airline, Nikos Kardassis, the CEO at Jet Airways for about 5 years now, has quit the company earlier this week. This will clear the way for Etihad to install a new CEO at the airline. Next in line rumoured to go would be the Head of Network Planning & Revenue Management, Mrs. Anita Goyal.

Nikos Kardassis was one key contributor for the success of the airline, and this was his second term around here. He initially headed the airline as its CEO from 1994-1999 and then came back to be CEO again in 2009 till date.

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About Ajay Awtaney

Ajay is a financial services pro, working to bring order to the chaos of the financial industry on an everyday basis! Beyond that, he dons the hat of India's favourite frequent traveller, trying to help people elevate their travel experience via tips and tricks they never knew before, or introduce them to the world of miles and points. Armed with an MBA from MDI Gurgaon and graduate degree in computer science from the University of Delhi, Ajay brings a systematic and objective approach on the table for his audience in dissecting travel and loyalty programs in India and around the world, and how to benefit from them. Ajay has been quoted in various reputed traditional and online media including The Hindustan Times, Inside Flyer, Bloomberg, DNA India, Conde Nast Traveller, The Telegraph, Mumbai Mirror, Mint, MoneyLife and The USA Today.

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