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Jet Airways CEO Cramer Ball steps down

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Jet Airways CEO Cramer Ball steps down
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Mumbai: In another top-level reshuffle, Jet Airways, India’s second largest airline by market share, announced the resignation of its Chief Executive Officer (CEO) Cramer Ball with effect from February 29, 2016.

The airline said Mr. Ball stepped down to “pursue a new opportunity in Europe for family reasons.” Gaurang Shetty, whole-time director at the airline, will become the acting CEO, the airline said in a statement on Thursday. Mr. Ball had joined Jet Airways last year after its board had approved his appointment in May 2014.

Italian airline Alitalia announced appointment of Mr. Ball as its CEO beginning March next year. Mr. Ball will replace Silvano Cassano, who quit the Rome-based company in September this year.

“I am honoured to have been able to play a part in the turnaround of Jet Airways, as it moves towards long-term sustainable profitability. The people at Jet Airways have worked as a team to get this business into shape and I am pleased with the progress that has been made,” Mr. Ball said in a statement.

This comes at a time when Jet Airways is in the process of implementing its turnaround plan. Abu Dhabi-based Etihad Airways has 24 per cent stake in the airline which posted a net profit of Rs 83 crore in the second quarter of 2015-16 – the first time company made a profit in the second quarter in eight years.

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