Private air-carrier Kingfisher Airlines recently appointed Sanjay Aggarwal as its CEO with immediate effect. Aggarwal is the former CEO of SpiceJet and is credited with steering SpiceJet into profit in FY 10, the first time since its inception in 2005. Aggarwal quit the airline in July this year after media baron Kalanithi Maran bought a 37.7% stake with a 20% open offer, following US investor Wilbur Ross deciding to offload his stake. Aggarwal has in front of him, a daunting challenge to turn around the performance of beleaguered Kingfisher Airlies, whose debts, as on March 2010, stood at Rs 6,000 crore, the largest for any domestic private air-carrier. It posted a loss of Rs 1,647 crore in FY 10.