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Delta Air Taps General Electric Power's CEO, Janki, as CFO

Delta Air Lines taps a veteran General Electric executive, Dan Janki, as chief financial officer.

Delta Air Lines  (DAL) - Get Report said Friday that it tapped a veteran General Electric  (GE) - Get Report  executive, Dan Janki, as executive vice president and chief financial officer, effective July 12.

Janki, who has more than 25 years with GE, is currently senior vice president at parent GE and chief executive of GE Power Portfolio. 

He succeeds Paul Jacobson, who resigned in November to join General Motors  (GM) - Get Report.

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Gary Chase and Bill Carroll have been serving as interim co-CFOs. 

He will oversee financial reporting, the controller organization, corporate audit, financial planning, fleet and TechOps supply chain, fuel management, including Delta’s refinery, investor relations, supply chain management and treasury.

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Among Janki's posts at GE, he served as CFO at GE Energy Infrastructure and at GE Capital Consumer Finance (Americas).

Janki, 53, will start with a base annual salary of $650,000. He will receive a $1.5 million signing bonus and an initial stock award valued at $4.5 million to start vesting after his first year, the Atlanta carrier said in a Securities and Exchange Commission filing.

Shares of the carrier at last check were up 1.1% to $45.89.

The airline industry has been devastated by the COVID-19 pandemic as travel restrictions and quarantine requirements were enacted in an attempt to stop the spread of the disease.

Delta reported a wider-than-expected first-quarter loss in April. but said it expected to return to profitability later this year. 

The company said its average cash burn of $11 million a day turned positive in March with cash generation of $4 million a day.

Delta said last week that it will now require new workers to get vaccinated for COVID-19.