Wednesday, February 23, 2022

Jalan Kalrock Consortium Appoints Vipula Gunatilleka As New Chief Financial Officer Of Jet Airways

Jalan Kalrock Consortium, the Successful Resolution Applicant and new proposed promoters of Jet Airways announced the appointment of Vipula Gunatilleka as Chief Financial Officer.  Mr Gunatilleka will be joining from March 1, 2022  

Mr Gunatilleka was the CEO of SriLankan Airlines until January 2022 and had the most daunting task of leading the national carrier during the pandemic. Mr Gunatilleka was head hunted by the Board in 2018 to re-structure SriLankan Airlines and in less than two years after assuming the duties as the CEO, the airline recorded positive EBITDA/Cash Flow for the Fiscal Year 2019/20 notwithstanding the devastating effects of the terror attacks in April 2019 in Sri Lanka followed by the global pandemic in early 2020. As a result of key initiatives introduced to improve the service standards and operational efficiencies, the airline was accredited with the ‘World’s Most Punctual Airline’ twice in 2019. 

Prior to joining SriLankan Airlines, Mr Gunatilleka was the CFO & Board Member of  TAAG Angola Airlines from November 2015 to July 2018 under Emirates Management. He played a pivotal role to turnaround the loss-making national carrier of Angola.  

Mr. Ankit Jalan, Member of the Monitoring Committee of Jet Airways and part of Jalan-Kalrock Consortium said “We are excited to welcome Mr. Vipula Gunatilleka to our young and energic team . Vipula is an aviation expert and regarded as a turnaround specialist in the industry. He has been shortlisted after a rigorous process run by our Executive Team over the last several months. I am certain Vipula will be an asset to the organization and will provide the necessary vision to revive the operations of Jet Airways as per the plans of the Consortium.”  

Mr. Gunatilleka qualified as a Chartered Accountant in the year 1987 after which he did his MBA from the University of Colombo, Sri Lanka. Mr. Gunatilleka is also a qualified Chartered Management Accountant (FCMA) from UK and Certified Public Accountant (FCPA) from Australia.  

Mr. Gunatilleka is known for his astute knowledge in aircraft financing, strategic planning, cost-efficient business modelling and openness to adopt hybrid models to keep business costs low and efficiency high. 

Speaking on his plans, Mr Vipula Gunatilleka said “I am very excited to join the company and I look forward to contributing my knowledge of last 30 years in Jet Airways’ resurgence in its new avatar. We will capitalize on the strong brand value which Jet Airways has in the market and use it to re-build the lost ground.”  

Mr Gunatilleka further added “I first joined SriLankan Airlines as its CFO in 2001, when it was part of the Emirates Group and was establishing its feet in the Indo-Pacific Sub-Continent. Having spent sufficient time in leadership roles in the aviation industry including as CEO of SriLankan Airlines until January 2022, I am aware of the responsibility that lingers on the shoulders of the leadership team, especially the CFO and I am confident Jet Airways will soon regain its lost glory.”  

About Jet Airways 

Jet Airways is a common household aviation brand in India and the oldest private airline with a history of more than 25 years. Jet Airways underwent the corporate insolvency resolution process under the Indian Insolvency and Bankruptcy Code from 20 June 2019 until 22 June 2021 and as per orders of the Hon’ble NCLT, Mumbai Bench, the resolution plan for Jet Airways submitted by the Jalan Kalrock Consortium was approved. As per the approved plan, the Jalan Kalrock Consortium will be the new promoters of Jet Airways. 

Jet Airways is being re-established under the new management of Mr. Murari Lal Jalan and Kalrock Capital Partners and will be renowned for reaching out to all its guests with a heart-warming spirit that is embedded in the unique Indian hospitality. Jet Airways will delight its guests with genuine care and personalized quality service, along with consistent, reliable and efficient operations. 

Jet Airways will innovate and deliver service excellence, setting standards for competition to emulate. Jet Airways will again be the most sought-after airline to fly and the most sought-after place of work. Jet Airways will achieve these objectives whilst simultaneously ensuring safe operations and sustainable profitability for all stakeholders. 

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