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Jet Airways CEO resigns

Jet Airways CEO resigns (Forimmediaterelease.net) Mr. Wolfgang Prock-Schauer, chief executive officer of Jet Airways, has resigned from the services of the company, effective October 15, 2009. Mr. Prock-Schauer wishes to rejoin his family in Europe and will be joining British Midland PLC (bmi) as its chief executive officer and will be based in the UK.

Mr. Prock-Schauer has been at the helm of Jet Airways since June 2003 and has guided the company during the critical period of its international expansion growth.

Mr. Prock–Schauer conveys his gratitude to the chairman, Mr. Naresh Goyal, and the members of the board for their guidance and support. The chairman and the members of the board thank Mr. Prock–Schauer for his leadership and commitment to the company during his tenure as the chief executive officer.

Effective October 15, 2009, Mr. Nikos Kardassis will take over as acting chief executive officer of the company. Mr. Kardassis, who was formerly the CEO of Jet Airways from 1994 to 1999, brings with him a wealth of experience in both the aviation industry and financial services.

Mr. Kardassis began his career with TWA holding various finance and operational positions. He has over two decades of extensive leadership and business management experience. He joined Merrill Lynch from General Electric where he served as president for GECAT. Mr. Kardassis was also the managing director and head of business development and distribution for the Global Bank Group at Merrill Lynch.

In the past 18 months, Mr. Kardassis has served as senior vice president, The Americas, for Jet Airways and has been closely involved in the restructuring and cost/network management of the airline and has been working as senior advisor to the chairman on both finance and strategy.

Photo: Wolfgang Prock-Schauer in foreground

Ragini Chopra Vice President – Corporate Communications & PR New Delhi, India Tel: +91 11 4164 5080 Fax: +91 11 4609 5084 Email: raginic@jetairways.com

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