Neelakantan, who served as SpiceJets CFO from November 2010 to February 2013, was serving as the Head of Internal Audit for the Sun Group, which owns the airline.
Mr. Neelakantans return to SpiceJet is part of a well-thought out succession plan as outgoing CFO Sam Isaac had previously expressed his desire to move on to pursue other opportunities, said an airline release.
The Chennai- based airline also said that Shilpa Bhatia, who joined the airline from the Sahara Group a fortnight ago, will be taking over as the Senior Vice President of Sales and Distribution, replacing Mr V. Raja who is retiring at the end of this month.
Bhatia was also earlier with SpiceJet from August 2009 to May 2011 when she served as Head of Corporate Sales and Sales Strategy.
Apart from Bhatia, the airline also said it has appointed Sudhakar Kondisetty as Senior VP of Information Technology, and Air Asia X's Fares Azeem Kilpady as Vice President and Head of Revenue Management.
I am delighted at the addition of highly talented and experienced professionals with world class credentials to the SpiceJet management team, said Sanjiv Kapoor, Chief Operating Officer (COO), SpiceJet Ltd, in a statement.
SpiceJet had earlier in February posted its biggest ever quarterly loss at Rs 171 crore for the quarter that ended on December 31, 2013, from a net profit of Rs 103 crore a year ago. The scrip of the airline closed 0.24% higher at Rs 12.79, at the Bombay Stock Exchange (BSE) on Tuesday.