Budget airline SpiceJet announced on Friday that Ashish Kumar has been named as its Chief Financial Officer (CFO). SpiceJet announced in a statement that Kumar's appointment to the position is effective as of September 9.
Sanjeev Taneja, who left the ailing airline on August 31, is replaced by Kumar.
Prior to joining the Gurugram-based low-cost carrier, Kumar worked at Interglobe Enterprises as vice president of corporate finance since January 2019, according to SpiceJet.
According to the statement, he previously worked at Interglobe Hotels for five years, from 2014 to 2018.
SpiceJet recorded a loss of Rs 784 crore for the quarter that ended June 30 compared to a loss of Rs 731 crore a year earlier due to a liquidity crisis.
Additionally, the business disclosed a loss of Rs. 485 crore for the quarter ending in March. According to Ajay Singh, Chairman and Managing Director of SpiceJet, "Restructuring SpiceJet and putting it back on a path of rapid growth is the best job in the aviation business today.
Ashish's experience and proven track record will ensure that he can effectively lead this effort.
Even as the airline plans to grow its fleet, a slew of problems have recently plagued its aircraft. SpiceJet is considering using a stock sale to obtain money. The business recently resolved legal issues with former owner Kalanithi Maran and Swiss lender Credit Suisse.