Indian low-cost carrier SpiceJet's CEO Sanjay Aggarwal has quit, as the airline's ownership looks set to change hands.

Aggarwal stepped down after a board meeting on Wednesday, says a SpiceJet spokeswoman.

Reports say board member Kishore Gupta is likely to serve as CEO in the interim while a replacement is hired, but the spokeswoman says no decision on appointments has been made yet.

SpiceJet is set to get a new majority stakeholder, with Indian television network owner Kalanithi Maran having offered to purchase an additional 20% stake in the airline.

Maran had already purchased a 38% stake in the carrier earlier this month, and is in the process of acquiring the additional 20% stake, says the spokeswoman.

Prior to joining SpiceJet, Aggarwal was the chief operating and chief strategy officer of US-based fractional ownership operator Flight Options.

Source: Air Transport Intelligence news