AirAsia India announces new CEO in management shake-up

[NEW DELHI] Loss-making budget airline AirAsia India said on Thursday it had appointed a new chief executive officer as part of a management shake-up, as the carrier seeks to boost its small market share and turn a profit in a fiercely competitive aviation market.

The airline, part-owned by Malaysian carrier AirAsia Bhd and India's Tata Sons conglomerate, said in a statement that former American Express executive Amar Abrol will take over from Mittu Chandilya, stepping step down at the end of this month after almost three years in the job.

Abrol was most recently the CEO of a financial products start-up and spent 19 years at American Express, AirAsia India said.

The airline, which has struggled to make money since it launched in mid-2014, also announced the appointment of former Air France KLM executive Ankur Khanna as chief financial officer, and Kiran Jain as its head of commercial operations.

The carrier competes with IndiGo, SpiceJet and GoAir in India's fast-growing air travel market, operating six aircraft covering 12 routes. Its market share stood at 2.3 per cent in January, official data shows, ranking it sixth among India's airlines.

Last year it put domestic growth plans on hold as it waited for a government ruling on whether to change a measure regulating overseas flights.

REUTERS