CEO Mr Neil Mill has recently resigned from Spice Jet. He was appointed as CEO in 2010 , just after three months the airlines was acquired by media barron Kalanithi Maran. Everything was working smooth for the airline from last few years, airline posted profits also for many fiscals.
All its competitors were not in the good shape, they were struggling and even Kingfisher airline was shut in the same period. Just in three years he took the airlines up in the sky, and in his tenure fleet size increased from 25 to 54 and market share grew rapidly from 13% to around 20%. He came out of innovative thinking and connected many tier 2 and tier 3 cities with Bombardier Q400 aircraft. Airline started International routes also.
However at the same time, the expenses grew from Rs 300 crores to Rs 700 crores and the interest increased from Rs 16 crore to Rs 115 crores. He was not able to manage the cost as per the expectation of Mr Maran and had to resign.