GoAir CFO Sanjay Gupta asked to leave

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Published: October 2, 2019 2:30:46 AM

The airline has plans for an initial public offer as it looks to raise capital for strengthening its domestic presence and overseas expansion.

On the performance front, the Mumbai-based carrier has increased its domestic market share from 9.9% in March 2019 to 11.8% in August due to complete grounding of Jet Airways.

Budget carrier GoAir has asked its chief financial officer (CFO) Sanjay Gupta to quit. He had joined the airline in March this year. Sources said Gupta was removed for performance-related reasons.

He had earlier been the CFO of Emami Agrotech and global finance director at Unilever Asia in Singapore. Several senior-level executives have left the Wadia group-owned airline, including chief executive officer Cornellis Vriewijk, who quit in February 2019. There have been exits at chief operating officer and chief commercial officer levels as well in the recent past.

On the performance front, the Mumbai-based carrier has increased its domestic market share from 9.9% in March 2019 to 11.8% in August due to complete grounding of Jet Airways.

The airline has plans for an initial public offer as it looks to raise capital for strengthening its domestic presence and overseas expansion.

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