Menon aims to regain ‘Maharaja’ glory

New Delhi: If the new chairman and managing director-designate of Nacil has his way, the beleagured national carrier would soon be able to redeem its lost glory.
Referring to the halcyon days of J R D Tata, when flying Air India was considered a privilege, Raghu Menon said on Thursday that his endeavour would be make it an airline of global standards.
Menon succeeds V Thulsaidas as CMD and is slated to assume charge on April 1. Acknowledging the myriad problems Nacil is faced with, Menon said the three-and-a-half years this Government has provided him should be enough to turn around the loss- making airline.
On Menon’s to-do list is seeking the Centre’s help in the form of additional equity infusion, tackling the ticklish manpower integration issues which are the fallouts of the merger, completing at least 60-70% of the merger process within the next one year and instilling a sense of pride in employees across the board.
According to some reports, Nacil will need to borrow up to $1.5 to fund the massive aircraft order it would place for requirements beyond 2011 but Menon did not confirm the figure.
For 2006-07, Air India and Indian Airlines reported a net loss of Rs 447.93 crore and Rs 240.29 crore respectively but the current fiscal would be the first after the two merged to form Nacil and experts are predicting a much higher combined net loss due to the hike in aviation turbine fuel prices.
28/03/08 Sindhu Bhattacharya/Daily News & Analysis

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