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Spicejet CEO Sanjay Aggarwal Quits

01 July, 2010

Budget carrier Spicejet Ltd ‘s(SPJT.BO) Chief Executive Officer Sanjay Aggarwal has quit within a month of Sun TV founder Kalanithi Maran’s acquiring a controlling stake in the aviation firm.

“Sanjay has quit as CEO,” a spokesperson for Spicejet, who cannot be identified, told Reuters.

Sun TV’s Maran and his unlisted aviation firm Kal Airways have agreed to buy 37.7 percent in the carrier and have also made an open offer for a further 20 percent.

Spicejet has a fleet of 20 aircraft and plans to add another five this fiscal. It has a share of a little above 12 percent in the domestic market and plans to start international flights this month.

At 3.10 p.m., shares of the firm were down 2.66 percent at 56.8 rupees in a weak Mumbai market.


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Spicejet CEO Sanjay Aggarwal Quits

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