Kardassis quits as CEO of India's Jet Airways

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Chief executive of Jet Airways, Nikos Kardassis, has resigned as head of the Indian carrier with immediate effect.

In a brief stock market statement, Jet says Kardassis, who has been in the role since October 2009, resigned with effect from 5 June. The airline's chief operating office Hameed Ali will serve as acting CEO until a permanent successor is appointed.

Kardassis initially serve at the helm of Jet between 1994 and 1999, returning in 2008 - initially as senior advisor.

It comes as Gulf carrier Etihad is in the process of acquiring a 24% stake in Jet and establishing a strategic partnership between the two.