Board has cleared a proposal to rationalise the number of unions in the airline late last month
Air India is the second Indian carrier to get a large bailout this year.
The board meeting of the state-owned airlines was also attended by Arvind Jadhav, for the first time since he took over as Nacil CMD after the sudden exit of erstwhile chairman Raghu Menon from the company. However, sources in the company said no final decision could be taken as the issue would be discussed with the new government and the civil aviation ministry.
Tata Sons on Thursday announced the appointment of Campbell Wilson as chief executive officer and managing director of Air India. Wilson is the founding CEO of low-cost airline Scoot.
'It was more than ego.' 'It carried with it a sincere belief that he was the quintessence of the country, that the country's destiny was irrevocably intertwined with his destiny.' An excerpt from T J S George's The Dismantling of India: In 35 Portraits.
The Air India board met on Monday afternoon to consider the candidature of Ilker Ayci and after due deliberations approved the appointment of Ayci as the CEO & MD of Air India, Tata Sons said in a statement.
The Air India board met on Monday afternoon to consider the candidature of Ilker Ayci and after due deliberations approved the appointment of Ayci as the CEO & MD of Air India, Tata Sons said in a statement.
Due to the group's presence across multiple businesses, it is in a unique position in the aviation industry to bring the best of talents.
Ravindra Dholakia joins the board along with Gurcharan Das, former chief executive officer of Procter & Gamb#8804 Prem Vrat, vice-chancellor of ITM University of Gurgaon; Air Marshal K K Nohwar; and Renuka Ramnath, managing Director and CEO of private equity firm Multiples Alternate Asset Management.
The Air India board gave a formal approval to the proposal on Thursday.
The Supreme Court has admitted for hearing a public interest litigation (PIL) alleging a major scam during the tenure of Praful Patel as the Civil Aviation Minister in the UPA-I government.
A meeting of the CCEA is likely to be held next week.
The entire issue of compensation, including the amount to be claimed and how, has been forwarded to the government for approval, sources said, adding that matter came up for a thorough discussion at the meeting of the Board, sources said.
The airline is also expecting to close the bridge loan of $195 million from the domestic arm of the British lender shortly.
Board also discussed the modified turnaround plan.
Air India Board is likely to approve the appointments in four key managerial positions, which would put an extra annual burden of over Rs 4 crore (Rs 40 million).
On Monday, the five independent directors of the company -- Anand Mahindra of Mahindra and Mahindra Ltd, Federation of Indian Chambers of Commerce and Industry's secretary general Amit Mitra, Ambuja Realty chairman Harsh Neotia and former air chief Fali H Major -- met Prime Minister's principal secretary T K A Nair and reportedly expressed their anguish over the appointments being made by the company.
The government on Tuesday restored the payment of productivity-linked incentives (PLI) to Air India's functional directors, five months after stopping it. With losses mounting, the Air India Board had approved a cut of up to 50 per cent in the monthly PLI for the airline's executive directors and other functional directors in September last year, as part of cost-cutting measures.
Even as the Air India Board meets on Wednesday to discuss productivity-linked incentives (PLI) and other issues, the Joint Action Committee of various trade unions has warned against imposing any decision on the employees unilaterally.
The panel, which is a sub-committee of the Air India board, was set up on Tuesday following which the executive pilots withdrew their five-day long agitation against slashing of their productivity-linked incentive and flying allowance by half.
The Air India board has decided to reduce by 50 per cent the productivity-linked incentives or flying allowance payable to its employees.
The Air India board is likely to give its approval to the appointment of global consultancy firm, Booz Allen and Company, for its cost restructuring plan.
The airline's current board has only one independent director -- N Vaghul, ex-chairman of ICICI, while the remaining nine are either from the civil aviation ministry or the airline itself. On the requirement of funds for reviving the national carrier, Patel said that a revival plan on the financial side is expected from SBI Caps soon.
The Indian Commercial Pilots Association (ICPA), the non-executive pilots' body of erstwhile Indian Airlines, on Wednesday said that it will not accept any pay cut proposed by the management.
The Air India board on Wednesday approved up to 50 per cent cut in the productivity-linked incentives (PLIs) for the airline's officers and executives. "The board has approved a cut by up to 50 per cent in PLIs for officers and executives, depending upon the salaries they are drawing," an Air India spokesperson said.
The Air India Board is likely to take a final call on employees' Productivity-Linked Incentives (PLI) or flying allowance issue in its crucial meeting on Tuesday.
Air India's financial and operational performance as part of its turnaround process came up for a review at the airline's Board meeting in New Delhi.
With both Boeing and Airbus pitching for the medium capacity long-range aircraft order worth over $1.5 billion, the Air-India board would meet on Saturday to finalise its decision on buying 10 aircraft with options for seven more.
The Air-India board on Saturday gave its nod to acquire 28 new aircraft as part of fleet expansion and the acquisition at a cost of about Rs 10,000 crore (Rs 100 billion).
Air-India board to mull craft purchase on Jan 24
Air-India board, which met in Mumbai on Friday, deferred a decision on acquisition of short capacity, short range or SCSR aircraft, according to an A-I spokesperson.
Air-India Ltd's board will discuss on April 3 whether the state-run long-haul carrier should place orders for 17 long-range aircraft from Boeing or Airbus, a spokesman for the airline said on Wednesday.
Air-India is to acquire 18 aircraft of 160-seater plus category, worth over $1.5 billion, during the next five years, even as it has decided to scale down its requirement of long-range aircraft from 17 to 10 planes.
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