New chief at Air India
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Rohit Nandan, a top civil aviation ministry official, is set to be appointed head of Air India Ltd, replacing chairman and managing director Arvind Jadhav, whose 23-month tenure has been marred by industrial strife and a deteriorating financial condition. Livemint.com said the move came after a final round of discussions between Prime Minister Manmohan Singh and aviation minister Vayalar Ravi on Thursday.”Jadhav’s services are being terminated,” said a top government official, who declined to be named. “Nandan is being appointed CMD temporarily.”Air India’s turnaround plan is being vetted by a group of officers and is expected to become the blueprint for further equity infusion into the debt-laden carrier. It has sought Rs.3,000 crore in government support annually for the next 10 years to stay afloat, the paper said. The airline is undergoing a government bailout.Under Jadhav’s tenure, the airline made losses of about US$1-1.5 billion and last month, in a major embarrassment, the airline’s entry into Star Alliance was suspended, the first time this has happened in the grouping’s 14-year history.Jadhav’s tenure also saw three major strikes by employees and pilots.Nandan will be the fifth chairman of the airline in four years since the carrier was merged and V. Thulasidas retired in 2008.”It is inevitable he has to go. His position there is untenable because of major financial losses and his incapacity post-merger to head the airline,” BJP member of Parliament Rajiv Pratap Rudy, was quoted saying.
Comments are closed.