SpiceJet, the low-cost carrier, which was practically without a Chief Executive Officer (CEO) for more than three months, on Monday announced the appointment of Sanjay Aggarwal as its CEO with immediate effect.

A company statement said that Aggarwal, who had earlier worked with the US Airways, was SpiceJet’s Chief Operating Officer and Chief Strategy Officer, before the recent announcement came along.

The newly-announced CEO, Aggarwal, takes over the position from Siddhanth Sharma. On July 12, Sharma resigned from SpiceJet, and picked up a job with rival carrier, Indigo Airlines, at a time when SpiceJet was undergoing severe financial crisis, and was in dire need of cash infusion of Rs 3.45 billion from US investor Wilbur Ross.

Regarding Aggarwal’s new appointment, SpiceJet Director Ajay Singh said: “Sanjay has energy and passion that SpiceJet needs at this crucial time. I have no doubt that he will contribute immensely to ensure that SpiceJet flies higher than ever before.”