Air India plans to search globally for a COO

New Delhi: Air India is to not only look globally for a Chief Operating Officer but is also keen to have persons of international repute and calibre such as telecom technocrat Mr Sam Pitroda and the TCS Chief Executive Officer, Mr S. Ramadorai, as independent directors on its board.
The airline plans to have up to seven independent directors on its board. Official sources said the airline will soon issue a global advertisement seeking a COO. These are among the steps being looked at to turn around the fortunes of the state-owned airline. Plans are also afoot to partially disinvest Government stake in the airline in the near future, sources said.
The increase in global fuel prices and costs, as also low passenger revenues, is hampering the airline operations. National Aviation Company of India Ltd, which runs flag carrier Air India, is expected to register a loss of about Rs 5,000 crore during 2008-09 fiscal, the Minister for Civil Aviation, Mr Praful Patel, told the Rajya Sabha on Tuesday.
The Government, which plans to bring about changes in the top management in the next 30 days, is keen to complete the turn around in the next two years.
07/07/09 Business Line

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Categories: NACIL Jul 2009