Directors kick-start AI’s revival
Air India’s revival has gained momentum with the reconstituted board taking firm steps for a possible turnaround of the national carrier.india Updated: Apr 07, 2010 00:29 IST
Air India’s revival has gained momentum with the reconstituted board taking firm steps for a possible turnaround of the national carrier.
The board, which for the first time met in Mumbai on Tuesday since the appointment of four independent directors, has asked the management to submit a concrete turnaround plan in 30 days with specific tasks to achieve.
It has set up four committees to review and oversee the turnaround plan and appointed a new chief operating officer to handle the airline in a professional manner.
The four new directors — Anand Mahindra, vice chairman & MD, Mahindra group; Harshvardhan Neotia, chairman Ambuja Realty group; Fali H. Major, former air force chief and Amit Mitra, secretary general of Federation of Indian Chambers of Commerce and Industry — attended the meet.
“The board reposed their full confidence on the management and I saw renewed sense of optimism,” said Arvind Jadhav, CMD, Air India.
The four committees those have been set up include audit, finance, strategy and HR.
The board set up an empowered committee for maintenance repair and overhaul and IT infrastructure of the airline.
It also ratified the appointment of SITA to set up passenger services system IT infrastructure for Air India in 300 days to enable the airline join the Star Alliance.