01/04/2015 12:16 PM IST | Updated 15/07/2016 8:25 AM IST

GoAir CEO De Roni Quits After Making Airline Profitable Last Two Years

Bloomberg via Getty Images
Giorgio De Roni, chief executive officer of Go Airlines (India) Ltd., pauses during an interview in Mumbai, India, on Tuesday, July 5, 2011. Go Airlines (India) Ltd., the discount carrier that ordered 72 Airbus SAS A320neo jets last month, is considering adding smaller planes to tap rising travel demand in the South Asian nation. Photographer: Adeel Halim/Bloomberg via Getty Images

The Wadia Group-promoted budget carrier GoAir Chief Executive Giorgio De Roni has quit the carrier, citing health reasons, sources said.

De Roni, an Italian national, had joined GoAir in 2011. "De Roni has quit GoAir. He had requested the management to relieve him on health grounds. Today was his last day at the airline," said sources close to the development.

When contacted, a GoAir spokesperson did not comment on the issue.

De Roni had taken over the post from Kaushik Khona, who was instrumental in getting back the no-frills airline on its feet. During De Roni's tenure the airline made profit for two successive years, though in the last fiscal the profitability eroded by almost 95 per cent.

While in FY 2012-13, GoAir posted Rs 104 crore profit, it declined to a paltry Rs 5.44 crore in the 2013-14 fiscal due to the rise in fuel prices and higher exchange rate.

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