Hogan will join an investment company along with Etihad Aviation Group chief financial officer James Rigney, who will also leave the company later this year.
The Malaysian low-fare carrier and Tata Sons own 49% each in the airline. The remaining 2% is owned by Chairman S Ramadorai and Director R Venkataramanan.
The development follows speculation about Hogan's possible exit and questions about Etihad's ability to turn around struggling investment partners
efore his first stint at Jet, Shivkumar was finance director at the GVK-led Mumbai International Airport Ltd and before that was vice president-finance at Tata Group's Taj Hotels Resorts & Palaces.
Malaysian low fare carrier AirAsia Berhad and Tata Sons own 49% each in AirAsia India. The remaining 2% is owned by chairman S Ramadorai and Director R Venkataramanan.
A GVK spokesman confirmed the development and said this will pave the way for the deal “to be concluded very soon”.
Smart, aggressive negotiations have been a cornerstone of Ajay Singh’s turnaround strategy for SpiceJet and the latest deal was no different.
Air Pegasus in a press release said this will help the carrier to restart operations from March 1. It didn't elaborate on the contours of the stake sale.
A total of 137 applicants from nine countries participated in the latest season. Seven companies-five from Bengaluru, one from Mumbai and one from Singapore were selected.
Lohani talks about lessons from the last year at Air India, problems that have been resolved, and what the future looks like.
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