Jeh Wadia steps down as managing director of GoAir

(File image: Reuters)

Jeh Wadia has stepped down as the managing director of GoAir, in a major reshuffle in the Wadia family-owned airline. The step is possibly one of the many that the airline will now take in preparation of its long awaited initial public offering.

The airline, in its statement on March 22, also announced the appointment of Ben Baldanza, the former CEO of Spirit Airlines, as the Vice Chairman. The industry veteran has been advising the board and management for GoAir.

Baldanza, as Vice-Chairman, will work directly with CEO Kaushik Khona and Pankaj Chaturvedi, the Chief Financial Officer. Khona had joined the airline in August 2020, replacing Vinay Dube, who made a sudden exit from the air carrier.

“We are happy that Ben has accepted the position of Vice-Chairman. His experience in creating the first ULCC in US, turning it profitable and successfully leading its IPO are of great value, as GoAir embarks on the next phase of its growth journey," Wadia said.

The company added that the appointment is part of plans for 'next phase of growth.'

"The promoters of the company and its Board came together to formulate a long-term plan. Amongst other initiatives, a key element of this plan, forged over weeks of discussions and consultation, was to further strengthen the management of the company by bringing on-board proven industry professionals, a strategy that has worked well for the group in its other ventures including Britannia," the airline said.

Baldanza, who has been an advisor to the company from 2018 and director since 2019, is known for building Spirit Airlines as the first ultra low-cost airline in North America, eventually leading it to an IPO in 2011.