GoAir CEO De Roni quits

GoAir Chief Executive Officer Giorgio De Roni is leaving the airline after nearly four years in the top post.

De Roni, who joined the airline in 2011, is the longest serving chief executive of the carrier. According to sources, De Roni is quitting because of health reasons.

A GoAir spokesperson did not respond to an email query.

Managing director Jeh Wadia is expected to oversee operations until the management fills up the CEO post. The airline appointed former commercial head of Cebu Pacific Tim Jordan as its chief commercial officer in February.

De Roni worked as the chief revenue officer of Italian airline Air One before taking charge of the Wadia-group owned airline. He had replaced Kaushik Khona.

 

His tenure saw the ordering of 72 Airbus A320neo planes, expansion of market share, network expansion from metro to non metro routes and increase in fleet utilisation. The airline has 19 Airbus A320 planes and a market share of 8.9%.

GoAir’s net profit slumped to Rs 5.44 crore for FY14 from Rs 104 crore the previous year, but it is expecting higher profitability in FY15.

"Last year we were profitable, but it was limited due to the huge increase in fuel costs and the significant depreciation of the rupee. This year will be much stronger. We are much better placed than last year in forward bookings for the fourth quarter," De Roni told Business Standard in January.