Maran to take over as SpiceJet chief, likely to revamp board

New Delhi: Half a dozen new board members are likely to join India’s second largest low-cost carrier SpiceJet Ltd, in which Kalanithi Maran’s Kal Airways Pvt. Ltd acquired a 38% stake earlier this month and has made an open offer to buy another 20%.
The new board members will include Maran, Kavery Kalanithi Maran, M.K. Harinarayanan, J. Ravindran, S. Sridharan and Nicholas Martin Paul, who are already the board members of Kalanithi Maran’s Sun TV Network Ltd, two aviation ministry officials said.
Maran, a south Indian media baron who runs 20 television channels and two general interest newspapers, is also expected to become the Gurgaon-based airlines’s new chairman and managing director, the officials said, requesting anonymity.
But with the rules not allowing for more than a 12-strong board and the carrier already having more than half a dozen board members, some of them may have to make way for the new entrants, one of the officials said.
The second aviation official said the new names will be sent to the home ministry for clearance, even though they are from Sun TV, which already holds permission to run a chartered airline.
Since the buyout, SpiceJet has also requested the aviation ministry to allow it to change the company’s name to Sun Airways Ltd, the aviation ministry officials said.
20/06/10 Tarun Shukla/Live Mint

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Categories: New Jun 2010, SpiceJet Jun 2010, Sun Airways Jun 2010