Govt looking for new joint MD to steer AI revival -Governance Now

Govt looking for new joint MD to steer AI revival

Air India has had two joint MDs since its merger with Indian Airlines in 2007, but the position is lying vacant since 2014

GN Bureau | September 20, 2016

#Air India #revival #joint MD #Indian Airlines #debt restructuring #Narendra Modi

The government is seeking to hire a new joint managing director to steer Air India Ltd’s turnaround and debt restructuring plan.

According to a news report published in the Mint, the appointments committee of the cabinet (ACC), which is headed by prime minister Narendra Modi, has asked the aviation ministry to fill the position. It is vacant since 2014.

Air India has had two joint managing directors (MD) since its merger with Indian Airlines in 2007. Bureaucrat Vishwapati Trivedi was the first one to serve as joint MD. Syed Nasir Ali, an Indian Revenue Service officer deputed to the aviation ministry, served as joint managing director from 2012 to 2014. His tenure was not extended and since then the position has been vacant. The government has started the process to fill the position with someone who can be the eyes and ears of the government and help with the turnaround process, the news report added.

Air India is weighed down by debt of Rs 51,367 crore, because of purchase of new planes and working capital loans. In 2012, the airline secured a bailout package from the government. It included Rs 30,000 crore in equity infusion spread over 10 years and it was allowed to draw an average Rs 3,000 crore every year.

While the huge drop in the fuel price has helped the national carrier to make some operational profit. The government wants to find ways to reduce the debt of the airline further. This includes nearly Rs 28,000 crore owed to state-owned banks.

Comments

Other News

Here’s an I.D.E.A. for career growth and success

Success in today’s professional organisation is no longer solely determined by academic qualifications, technical expertise or years of experience. While these attributes do matter, organisations increasingly value individuals who demonstrate the right mindset and behavioural qualities. The ability

PM interacts with CEOs, founders of space startups

Prime minister Narendra Modi interacted with CEOs and Founders of 20 Space Startups at Seva Teerth on Friday. CEOs of leading companies in the space sector working in diverse fields ranging from building rockets and reusable semi-cryogenic launch vehicles, avionics, satelli

From one cow to a dairy business

In 2012, Anita Dash wasn`t dreaming of building a dairy brand. She wasn`t studying business models or planning market expansion. Like countless mothers across India, her focus was on something much simpler: giving her children a better future. At the time, her most valuable

Ethanol blending: The two sides of a story

India`s crude oil consumption is estimated to be around 88.5% imported from abroad. This one single figure is also responsible for why ethanol has become both an economic strategy and fuel policy at the same time. In an economy like India, which depends so heavily on foreign oil, any increase in internat

Food inflation: Not a macroeconomic statistic but a developmental indicator

India`s retail inflation shows a reassuring picture at first glance. According to the latest data, Consumer Price Index (CPI) inflation edged up to 4.38% in June 2026 from 3.93% in May 2026, but continued to remain within the Reserve Bank of India`s (RBI) target band of 4% (+/- 2%). However, beneath this

Skin in the game or masterful market timing?

When a company founder opens their personal chequebook to buy shares in their own business, stock markets usually applaud. To the average retail investor, it feels like the ultimate vote of confidence, a sign that the people running the show have real skin in the game and believe brighter days are ahead.