Indigo - the Indian LCC controlled by family interests associated ITG - Interglobe Technologies and former Worldspan CEO Rakesh Gangwal, has seen its 2 top execs leave in less than 6 weeks.
First to go was its COO. On October 23rd, USA3000 today announced that Steven E. Harfst has been named its first President and Chief Executive Officer, effective Nov. 10th, 2008. Mr. Harfst replacing Angus Kinnear who recently retired as USA3000's Chief Operating Officer. Harfst was previously COO of Indigo and prior to that CEO of North American Airlines.
Today, Saudi Arabian LCC Sama named Bruce Ashby CEO, replacing Andrew Cowen. Ashby formerly was president and CEO of IndiGo and US Airways executive VP-marketing and planning. SAMA has been bleeding red ink and its management team led by Andrew Cowen from Mango Aviation Partners has been struggling to come terms with a very different LCC market of Saudi Arabia.
It is no secret that all Indian carriers have posted large losses. Indigo while well funded initially, must be hurting. It has delayed and slowed delivery of new Airbuses - currently just 22 of its initial 100 firm orders have been completed. Rakesh is probably beginning to wonder if his bailout from Worldspan was that great.
Bruce Ashby is stepping from the frying pan into the fire. Just 2 weeks ago SAMA launched its flights from KSA to India. probably not the best time. SAMA is still struggling to find its grove.
Thanks to Canadian Professor Bryan for this tip.
Cheers
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