Neil Mills, Chief Executive Officer of SpiceJet, has resigned, according to industry sources.

The sources said Mills put in his papers after a recent meeting with senior airline management.

An announcement is expected when the listed company declares its first quarter results. But an airline spokesperson said: “No date has yet been fixed for the company to announce its results. As a policy, we do not comment on market rumours and speculation.” Calls and text messages to Mills’ mobile remained unanswered.

Mills, who earlier worked with the Dubai-based low-cost airline, FlyDubai, joined SpiceJet in October 2010. He was brought in to manage SpiceJet soon after Kalanithi Maran, Chairman and Managing Director of the Sun Group, acquired a 37.75 per cent stake in the airline in June 2010.

Under Mills’ stewardship, the airline launched a limited period heavily discounted fare this January, offering 10 lakh seats at an all-inclusive fare of Rs 2,013. The launch of the scheme is being talked of as one of the reasons for the fallout between Mills and the company’s owners.

In April 2012, S. Natrajhen (formerly with Sun TV and erstwhile COO of SpiceJet) was appointed whole-time director of SpiceJet, and designated Executive Director. Similarly, R. Ravivenkatesh (also on the Sun TV board) was appointed a Director with the airline.

The airline’s stock closed 0.74 per cent higher at Rs 27.40 on the BSE on Tuesday.

ashwini.phadnis@thehindu.co.in

(This article was published on July 23, 2013)
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