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GoAir appoints Wolfgang Prock-Schauer as new CEO

Revenue up 21% in FY15 and passenger volume grew 13%

BS Reporter  |  Mumbai 

Wadia Group-run GoAir has appointed Wolfgang Prock-Schauer as the chief executive officer (CEO). Prock-Shauer, who was CEO of Jet Airways for six years till 2009, replaces Giorgio De Roni, who quit in March after steering the airline’s growth for four years.

“We are confident Wolfgang will add immense value to our current business and prepare the company for its largest growth phase starting early next year, which is when we commence the induction of our 72 Airbus A320 Neo planes,” Managing Director Jeh Wadia said.

GoAir also announced on Sunday it made a profit in FY15 and said its passenger volume grew 13 per cent over previous year.

ALSO READ: GoAir seeks Airbus instructors as 35 pilots resign

In FY14, net profit slumped to Rs 5 crore from Rs 104 crore the previous year, according to the airline’s balance sheet filed with the ministry of corporate affairs. A rise in fuel costs and currency depreciation had impacted the profits of the airline last year.

In FY15, operating revenue grew 21 per cent to Rs 2,946 crore and earning before interest, tax depreciation, and amortisation was up 76 per cent to Rs 227 crore. The market share went up from eight per cent to nine per cent and the load factor was up from 74 per cent to 79 per cent in FY15.

First Published: Mon, June 01 2015. 00:43 IST