Go-Air revealed recently that their CEO, Cornelis Vrieswijk, has resigned from his post a mere 9 months after joining. Mr. Vrieswijk was hired in June 2018. To be fair, during all stages of negotiations and meetings, the former CEO had made it clear that he’d like to operate out of Amsterdam. At the time, GoAir had complied with his wishes, though the airlines had done nothing to follow up. As his family does not want to live in Mumbai, Mr. Vrieswijk has resigned from his post so that they can all move back.
So, what’s going to happen at GoAir now?
As of now, the company has claimed that their Managing Director, Mr. Jeh Wadia, will be discharging all the additional responsibilities of the CEO. This will continue until they find a new successor who can take up the role.
At the time of hiring Mr. Vrieswijk, MD Jeh Wadia and Chairman Nusli Wadia released a statement regarding the new hire. In this statement, they had described their new CEO as a “seasoned global executive and a consultant with over 25 years of experience in the aviation and travel industry”.
Prior to working with Go-Air, Mr. Vrieswjik had worked with the Thomas Cook Group.
Though it is a budget airline, Go-Air is not performing as well as its competition. In 2018, it generated a revenue of 3,513 Crore INR, which means that it is trailing far behind names like Spice Jet (revenue: 7,933 Crores INR), IndiGo (revenue: 23,968 Crores INR) and Jet Airways (Revenue: 25,200 Crores INR).
Of course, it’s no surprise that Go-Air also has a lower market share in India. It holds 8.4% of the domestic airlines market. On the other hand, Jet Airways holds 15.4% of the market share, Spice Jet has 13.8% and Air India has 13.5%. Indigo is currently the top airlines in India. It’s market share in May 2018 was 41%, making it a far more relevant brand to the average consumer when compared to the previously mentioned airlines.