AI’s board to look at cost-cutting plan

New Delhi: Flag carrier Air India will decide on Tuesday whether to implement a cost-cutting plan suggested by consulting firm Booz and Co. that envisages a bigger role for four newly appointed members of its board.
The new directors are Anand Mahindra, vice-chairman and managing director of Mahindra and Mahindra Ltd; Amit Mitra, secretary-general of industry lobby group Federation of Indian Chambers of Commerce and Industry; industrialist Harsh Neotia; and retired air force chief Fali H. Major.
They will be briefed on the airline’s status and future options when they attend their first board meeting on Tuesday, a government official said.
Among the key decisions likely to be discussed is a turnaround plan presented by Booz. This includes a suggestion to establish half-a-dozen new committees, including for finance, human resources, route planning and strategy that are proposed to be headed by each of the new directors, according to another government official. Both officials spoke on condition of anonymity.
The committees, which will also have representatives from the airline and the civil aviation ministry, will decide on the future course of the airline and take key decisions.
05/04/10 Tarun Shukla/Live Mint

To Read the News in full at Source, Click the Headline

Categories: NACIL Apr 2010