In less than two years after assuming the duties as the CEO, the Sri Lankan airline recorded positive EBITDA and cash flow.
A turnaround specialist and an aviation expert, former Sri Lankan Airlines Chief Vipula Gunatilleka is appointed as the chief financial officer (CFO) of Jet Airways, India effective 1st March 2022. He has been tasked with reviving the grounded carrier.
Mr Gunatilleka had overseen “the most daunting task of leading SriLankan Airlines during the pandemic. Mr Gunatilleka was headhunted 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 and cash flow for 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 Sri Lankan airline was accredited with the “World’s Most Punctual Airline” twice in 2019.
Ankit Jalan, a member of the monitoring committee of Jet Airways and part of the Jalan-Kalrock Consortium said, “We are excited to welcome Mr. Vipula Gunatilleka to our young and energic team. Vipula is an aviation expert and is 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.”
Speaking on his plans for Jet Airways, Mr. 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 rebuild the lost ground.“
Prior to joining SriLankan Airlines, Mr. Gunatilleka was the CFO and board member of TAAG Angola Airlines from November 2015 to July 2018 under Emirates Management. He played a pivotal role in turnaround the loss-making national carrier of Angola.
Mr. Gunatilleka is known for his astute knowledge in aircraft financing, strategic planning, cost-efficient business modelling, and openness to adopting hybrid models to keep business costs low and efficiency high.
