The chief financial officer of Dubai's low-cost carrier FlyDubai has resigned and joined budget airline Spicejet Ltd as chief executive, the Dubai-based company said on Wednesday.
Neil Mills will join Spicejet in October, a spokesman for state-owned FlyDubai told Reuters.
Mills will takeover from Spicejet's former chief executive Sanjay Aggarwal, who quit less than a month after the founder of Sun TV Network Ltd, Kalanithi Maran, agreed to buy a 37.7% stake in the airline.
Maran and his unlisted aviation firm Kal Airways has also unveiled plans to make an open offer for 20% more in SpiceJet.
According to a public announcement of the open offer issued on June 14, the acquirers, subject to regulatory approval, also propose to change the name and registered office of Delhi-based SpiceJet upon the offer completion and acquisition of shares.
Spicejet has a fleet of 20 aircraft and plans to add another five this fiscal year. It has a share of little above 12 percent in the domestic market and plans to start international flights in July.
On Tuesday, Dubai's Istithmar sold its 6.9% stake in SpiceJet for USD 25.3 million, two sources had told Reuters.
Spicejet reported a net profit of Rs 614 million for 2009/10 against a loss of Rs 3.33 billion a year ago on traffic surge and better capacity utilisation.
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