Aviation

Jet Airways names Amit Agarwal CEO

MUMBAI

Jet Airways India Ltd. named its sixth chief executive officer in almost three years amid the carrier’s efforts to swing to an annual profit. The shares rose.

Amit Agarwal, who was appointed as the company’s chief financial officer in December, will be the new acting CEO, Jet Airways said in a filing, without providing a reason for the change, reports Mint.

He’s replacing Gaurang Shetty, who took on the role after Cramer Ball resigned two months back. Manish Kalghatgi, a spokesman at the Mumbai-based carrier, didn’t immediately respond to an e-mail seeking comment on the change.

Agarwal has taken the helm at India’s second-biggest airline as a slump in oil prices is combining with air traffic that’s expanding at the fastest pace in the world to help carriers in the country reverse losses. That’s also spurring more intense competition as bigger rival IndiGo is expanding its fleet, while Vistara, the local joint venture with Singapore Airlines Ltd., and AirAsia Bhd.’s India affiliate look to add routes.

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