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February 06, 2007 10:58 IST
As a prelude to raising funds for expansion from domestic and international markets, domestic carriers are busy restructuring their personnel profile.
Budget carriers like Air Deccan, SpiceJet, IndiGo and GoAir are making key appointments, especially in the positions of chief finance officer, chief executive officer, while some airline executives are on their way out.
For instance, the Captain Gopinath-promoted airline, Air Deccan, is roping Ramki Sundaram of UK-based Investec Bank as chief financial officer. Ramki was instrumental in getting Air Deccan a funding of Rs 450 crore (Rs 4.5 billion).
Ramki structured the deal in such a way that Air Deccan will get Rs 450 crore (Rs 4.5 billion) in turn of a future aircraft supply contract in favour of a special purpose company funded by banks, including Investec Bank. Ramki is expected to join the airline February 8 while former Director-Finance M G Mohan Kumar has resigned from the board of directors on January 31. Kumar will be revitalising his own consulting firm.
Air Deccan has also appointed renowned HR professional Manab Bose to look after human resource function. Bose became the first Indian to head HR at GE India in the 1990s followed by long stint in Tata Group and Colgate Palmolive.
"Airlines, which had a decent traffic in the current peak season that began in December, want to show them as profitable ventures. Almost all airlines are eyeing funding options from India as well as overseas.
"Moreover, they are busy in putting proper system in place to meet the lean season starting from March," industry analysts say.
Delhi-based low cost carrier SpiceJet, which never had a chief financial officer, has appointed Partha Sarthi Basu in this critical post. Basu is coming with wealth of experience and exposure in his company Whirlpool.
SpiceJet executives said Basu would help in setting professional standards in all financial affairs and incorporate procedures with his corporate expertise.
"With his strong credentials and rich experience, Basu is a valuable addition to SpiceJet," Ajay Singh, Director, SpiceJet said.
SpiceJet has recently got an investment proposals worth $118 million from the reputed firms such as Tata Group, BNP Paribas, Isthitmar Group and Goldman Sachs.
Delhi-based low-fare carrier IndiGo has also announced appointment of Sanjay Kumar as chief commercial officer.
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