New CEO for Jetstar Asia

Mr Pasupathi brings 16 years' experience in senior roles across the energy, aviation and finance sectors, including three years as Jetstar Asia's first Chief Financial Officer.

Chairman of Newstar (holding company of Jetstar Asia) Mr Dennis Choo said Mr Pasupathi, a Singapore national, would lead Jetstar Asia and Valuair as their networks expand into some of the fastest-growing aviation markets in the world.

"We are very pleased to have an executive of Mr Pasupathi's calibre to lead Jetstar Asia into the next phase of its development," Mr Choo said.

"As one of the founding executives of Jetstar Asia, Mr Pasupathi has a first-hand understanding of our business as well as the aviation sector overall.

"His 10 years' experience in oil and gas industry has equipped him with detailed knowledge of the leading cost driver in aviation, namely fuel, and his familiarity with supply chain management gives him a sharp sense of process optimisation," Mr Choo added.

CEO of the Jetstar Group, Mr Bruce Buchanan, said Mr Pasupathi would build on the significant momentum behind the Singapore hub, which links the Jetstar Group's networks in Vietnam, Japan, Australia and New Zealand through up to 400 long and short haul flights per week.

"Mr Pasupathi is well placed to drive the continued growth of Jetstar Asia and Valuair, leveraging his experience to reduce costs and deliver better customer service," added Mr Buchanan.

Mr Pasupathi said: "Jetstar Asia is a great success story, particularly given the fact it is now the largest and most profitable low fares carrier in Singapore. I look forward to leading the local team in building on the airline's success and strengthening the Jetstar brand across Asia Pacific."

Jetstar Asia grew by 47 per cent in the six months to December 2011 as it increased frequency and started new services to Hanoi, Guangzhou and Ningbo. It also expanded its fleet to 16 aircraft with three new A320s.

Jetstar is on track to carry more than 20 million passengers in FY12. It is currently the largest low fares carrier in Singapore[1] and the largest in Asia Pacific by revenue.

Mr Paul Daff will continue as acting Chief Executive Officer of Jetstar Asia until Mr Pasupathi starts in his new role on 2 July 2012.