New Delhi, March 4, 2022: Jalan Kalrock Consortium, the Successful Resolution Applicant, and new proposed promoters of Jet Airways today announced the appointment of Sanjiv Kapoor as the Chief Executive Officer.
Sanjiv, who is currently President of Oberoi Hotels & Resorts, will be joining from April 4, 2022.
Prior to joining the Oberoi Group, Sanjiv was the Chief Strategy and Commercial Officer at Vistara, a TATA – Singapore Airline Joint Venture, from 2016 until 2019. During Sanjiv’s tenure, the airline grew from 9 aircraft and 40 flights a day to 38 aircraft and over 200 flights a day. All of Vistara’s revenue-generating and customer-facing functions, as well as strategy, network planning,
marketing, loyalty, inflight services, ground services, and product development, reported up to him.
Prior to Vistara, Sanjiv led SpiceJet, India’s second-largest LCC, through its unprecedented turnaround in 2014-2015 as its COO and de facto CEO from November 2013 until October 2015, shepherding the airline through a period of record-high oil prices and a cash crunch, to cultural and operational transformation, ownership change, and profitability within 15 months of assuming charge, in the process fundamentally changing the Indian airline industry in terms of its earlier approach to pricing, marketing, and customer delight.
Sanjiv, a Wharton MBA, started his airline career with Northwest Airlines (now merged with Delta) in the US in 1997, where he worked in finance and corporate planning. In 2004, Sanjiv joined Bain and Company (in Singapore, and subsequently in Dallas and London) as a leader in their airline practice, working with global airline clients on projects ranging from strategy and performance improvement/ turnaround to network, alliances, and customer experience. Sanjiv’s previous employers include Temasek Holdings, Singapore, and Oracle Corporation.
Mr. Murari Lal Jalan, Lead Partner of the Jalan-Kalrock Consortium and proposed Non-Executive Chairman of Jet Airways said “I am happy to have Sanjiv join our team. Sanjiv is a people person and has all qualities of a great leader.
I am certain he will be able to lead Jet Airways and make it become the most preferred full-service carrier of India. Sanjiv is a seasoned aviation professional who has the right blend and demeanor to stitch a team together.” Mr. Jalan further said, “I always believe in investing in human capital and by having Sanjiv as the CEO and Vipula as the CFO, I am certain Jet Airways will reclaim its lost glory and surpass everyone’s expectations.”
Speaking on his accepting the role as the Chief Executive Officer, Mr. Sanjiv Kapoor said “I am looking forward to getting back to aviation, an industry I am passionate about, with Jet Airways, one of the warmest, classiest and most loved brands to have graced Indian aviation. Even though Jet Airways has been out of operation for three years, it still has a large fan base of loyal customers who miss it every day and can’t wait for it to take to the skies again.
Working together with a very strong team of experienced aviation professionals that is being put together by the Jalan-Kalrock Consortium, I look forward to leading the charge in rebuilding Jet Airways into the most preferred customer-oriented airline once again, a people-focused airline for the digital age.”
Sanjiv is from Kolkata and did his schooling at La Martiniere. Sanjiv received his MBA in 1996 from Wharton (University of Pennsylvania), and his BA in 1990 in Computer Science and Government from Dartmouth College.
About Jalan Kalrock Consortium
Mr. Murari Lal Jalan is the lead member and proposed promoter of Jet Airways. Mr. Jalan is a visionary who expanded his business horizon by investing in multiple paper manufacturing units in India, diversifying his business into mining, trading, FMCG, renewable energy, and other financial and strategic investments across the Globe. Mr. Jalan’s passion for aviation started in early 2020 when he initiated discussions with the Government of Uzbekistan to develop an International Airport in Namangan City. When major aviation companies decided to stay away from new acquisitions, Mr. Jalan saw potential in Jet Airways.
Kalrock Capital is backed by Fritsch, an investment group founded by serial entrepreneur Florian Fritsch. Florian has partnered with some of the world’s most influential families and organizations via Kalrock Partners. The group provides a combination of investment and advisory services in financial, marketing, managerial and legal matters to all its partners and most importantly facilitates meaningful strategic relationships accessing investment opportunities with global impact. Florian’s track record is all about timing and execution. The group has been investing successfully into alternative asset classes over the past 20 years, both as a principal investor, as well as in co-investment syndicates.
About Jet Airways
Jet Airways is a common household aviation brand in India and the oldest private airline with a history of more than 25 years. Jet Airways underwent the corporate insolvency resolution process under the Indian Insolvency and Bankruptcy Code from 20 June 2019 until 22 June 2021 and as per orders of the Hon’ble NCLT, Mumbai Bench, the resolution plan for Jet Airways submitted by the Jalan Kalrock Consortium was approved. As per the approved plan, the Jalan Kalrock Consortium will be the new promoters of Jet Airways.
Jet Airways is being re-established under the new management of Mr. Murari Lal Jalan and Kalrock Capital Partners and will be renowned for reaching out to all its guests with a heartwarming spirit that is embedded in unique Indian hospitality. Jet Airways will delight its guests
with genuine care and personalized quality service, along with consistent, reliable, and efficient operations.
Jet Airways will innovate and deliver service excellence, setting standards for competition to emulate. Jet Airways will again be the most sought-after airline to fly and the most sought-after place of work. Jet Airways will achieve these objectives whilst simultaneously ensuring safe operations and sustainable profitability for all stakeholders.
