India’s low-cost carrier (LCC) SpiceJet has appointed Ashish Kumar as its new Chief Financial Officer (CFO) with immediate effect. Kumar replaces Sanjeev Taneja who resigned from SpiceJet at the end of August.
Before joining SpiceJet, Kumar was serving as the vice president (head) of corporate finance at Interglobe Enterprises, the parent company of rival airline, IndiGo. He held the position since January 2019. Previously, he had also served as the CFO at Interglobe Hotels from 2014 to 2018.
Prior to Interglobe, Kumar worked as the head of finance at Tata Value Homes, Suzlon Infrastructure and Hindustan Petroleum.
Welcoming Kumar to the new role, Ajay Singh, chairman, and managing director, SpiceJet said: “Kumar's experience will be key to putting the airline back on the path of growth. Restructuring SpiceJet and putting it back on a path of rapid growth is the best job in the aviation industry today. Ashish’s experience and proven track record will ensure that he can successfully lead this effort. I wish him all the best for his new role.”
Speaking on his appointment, Kumar said: "I am delighted and honored to join SpiceJet and look forward to closely working with the team. I hope to contribute to the growth story and scale greater heights with the company under the able leadership of Ajay Singh."
SpiceJet is currently facing a liquidity crunch with a reporting loss of INR 784 crore in the quarter that ended on June 30, 2022. Pulling up the airline from the current financial crisis is a big challenge ahead for Kumar.