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SpiceJet shortlists five candidates for CEO post: Group CFO

Last Updated: Wednesday, September 25, 2013 - 22:54

Chennai: Kalanithi Maran-owned budget carrier SpiceJet has shortlisted five candidates for the chief executive officer's post following the resignation of Neil Mills.

"Five candidates have been shortlisted for the post of CEO and Mills' position would be filled soon," S L Narayanan, Sun Group CFO, said Wednesday on the sidelines of the company's annual general meeting here.

The airline had informed the BSE in August that Mills' resignation was accepted by the board of directors.

Replying to shareholder queries on the impact of Tata's tie up with AirAsia and Singapore Airlines, Narayanan said, "We emerged strong in the recent years and the competition will bring out the best in the company. We are prepared and we will give a strong fight."

He said SpiceJet will focus on products, markets, customers and profitability.

Meanwhile, in a regulatory filing to the BSE, the Chennai-based private carrier said shareholders at the company's 29th AGM approved the re-appointment of Nicholas Martin Paul and R Ravivenkatesh as directors.

The company said it has lined up strategies to address increasing fuel costs, including flying to states where taxes are low, flying to more overseas destinations where aviation fuel prices are competitive and running engines efficiently.

"A full-fledged team tracks fuel burning on the aircraft," Narayanan said.

SpiceJet also denied reports it was in talks with Singapore-based Tiger Airways for a stake sale.
"The report this afternoon suggesting that we are in the process of offloading a substantial equity stake to Tiger Airways is totally misconceived. There is absolutely no truth in that story," Narayanan said.

He said: "We are extremely concerned at the repeated references in the media as regards SpiceJet's plans to induct a strategic investor. Many of these are speculative and misleading. While we are not averse to the idea of partnering with a reputed name in aviation, it will be improper to comment prematurely on the possibilities of a deal fructifying."

SpiceJet had reported a 10 percent decline in net profit to Rs 50.55 crore in the first quarter ended June 30.


First Published: Wednesday, September 25, 2013 - 22:54
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