SpiceJet CFO resigns, may join Whirlpool

New Delhi: Gurgaon-based airline firm SpiceJet Ltd’s chief financial officer Parth Sarathi Basu has quit the airline after serving it for over a year and half.
Low-fare carrier SpiceJet holds nearly 10% of the domestic market by passenger share and raised nearly $80 million (Rs404 crore today) from US-based private equity fund WL Ross and Co. Llc. in July.
The CFO’s exit comes amid a challenging environment for the airline, given that it posted a loss of nearly Rs198 crore in the second quarter of the fiscal and has already seen its chief executive officer (CEO) Sidhantha Sharma quit in July. Basu is likely to rejoin Whirlpool of India Ltd, where he worked before joining SpiceJet. The firm has appointed US-based Sanjay Aggarwal as the new CEO who took over his new role on Monday.
21/11/08 Tarun Shukla/Livemint

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Categories: spicejet Nov 2008