India’s only publicly listed low fare carrier, SpiceJet Ltd., faced turbulence in the stock market after newspapers reported the resignation of its Chief Executive Officer Neil Mills.
The stock price of the Kalanithi Maran controlled airline fell as low as Rs. 26.50, its lowest price since June 27.
Mills joined the airline in October 2010 from flyDubai. While there is much speculation on the reasons behind Mills’ departure, sources inside the airline, who prefer to remain anonymous, said, the resignation was amicable and was for family reasons. A search for a new CEO is on.
Bangalore Aviation wishes Neil Mills continued success and happiness.