Jet Airways names sixth CE in 3 years amid profit quest

Jet Airways named its sixth CE in almost 3 years amid the carrier’s efforts to swing to an annual profit. Amit Agarwal, who was appointed as the company’s CFO in December, will be the new acting CE, Jet Airways said in a filing, without providing a reason for the change. He’s replacing Gaurang Shetty, who took on the role after Cramer Ball resigned 2 months back. Agarwal has taken the helm at the airline as a slump in oil prices is combining with air traffic that’s expanding at the fastest pace in the world to help carriers in the country reverse losses. That’s also spurring more intense competition as bigger rival IndiGo is expanding its fleet, while Vistara and AirAsia’s India affiliate look to add routes. The carrier will probably post a profit of US$124m in the year through March, the first time in 8 years. <br/>