Kingfisher Airlines Board Accepts CEO Sanjay Aggarwal's Resignation

New Delhi: Kingfisher Airlines' board has accepted the resignation of Sanjay Aggarwal, who had put in his papers as chief executive officer nearly a year ago.

Faced with mounting losses and rising debt, Kingfisher Airlines stopped flying in October 2012. The carrier's two-year window to renew its flying license also lapsed last year.

The company informed the BSE on Thursday that Mr Aggarwal's resignation has been accepted by the board.

"... the board of directors of the company at its meeting held on February 12, 2015, has considered the resignation letter dated February 14, 2014 submitted by Sanjay Aggarwal, chief executive officer and has accepted the same with effect from February 14, 2014," a regulatory filing said.

Last week, Kingfisher Airlines had announced the appointment of Magunta Srinivasulu Reddy as an additional director on its board effective from February 12.