GoAir appoints Wolfgang Prock-Shauer as its new CEO | business | Hindustan Times
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GoAir appoints Wolfgang Prock-Shauer as its new CEO

The Wadia-Group-promoted budget carrier GoAir, which saw the resignations of its top officials and 30 pilots over the past few months, appointed former Jet Airways CEO Wolfgang Prock-Schauer as its new chief executive.

business Updated: Jun 01, 2015 00:37 IST
HT Correspondent
GoAir

GoAir-CEO-Wolfgang-Prock-Schauer

The Wadia-Group-promoted budget carrier GoAir, which saw the resignations of its top officials and 30 pilots over the past few months, appointed former Jet Airways CEO Wolfgang Prock-Schauer as its new chief executive.

The airline’s chief executive officer Giorgio De Roni and chief commercial officer Tim Jordan resigned in quick succession recently.

Prock-Schauer, an Austrian national with over 34 years of experience, has been associated with various commercial aviation businesses. He has also served as the CEO of some of the major airlines across Europe and Asia.

Aviation expert Subhash Goyal said, “The low-cost carrier needs stability at the top and a strong management.”

GoAir reported a profit in 2014-15. However, the airline, which isn’t listed, did not disclose any numbers. The no-frills carrier said it had registered “profitability for the third consecutive year”.

“The company has made significant increase in the operating revenue by 21% with EBITDA (earnings before interest, taxes, depreciation, and amortisation) reporting a substantial improvement of 76% over the previous financial year,” said Jeh Wadia, managing director, GoAir.

Passenger growth, Wadia said, was 13.2% over last year and the market share went from 8.5% to 9.3% for the financial year ended March 31, 2015. GoAir, which was launched in November 2005, has cut its schedule by around 10%.