New Delhi: Is Air India chairman and managing director Arvind Jadhav on his way out? Sources in the government and those close to Jadhav told FE that earlier this month, the CMD verbally communicated to the civil aviation ministry his desire to step down before the end of his three-year term in May 2012. Jadhav, who had taken over from interim chief EK Bharat Bhushan, has now completed two years at the helm of India's loss-making national carrier.
According to sources, Jadhav, who is currently at the additional secretary rank, will be empaneled as secretary, government of India, next month and plans to serve in that capacity either at the Centre or in his home cadre. He was selected in May 2009 to turn around the bleeding airline at a time when Praful Patel was civil aviation minister.
The IAS officer from 1978 Karnataka cadre who steered reforms during his stint as joint secretary in the power ministry was, however, hamstrung by the airline’s accumulated mountain of debt and losses. Air India employees have frequently struck work for higher pay, though the airline is heading for a record R7,000-crore loss in 2010-11. Lacking sufficient government support, Jadhav was forced to reinstate dismissed workers and re-recognise an Air India pilots union last month. It may be noted that Deloitte Touche Tohmatsu has recommended an immediate salary freeze at the airline.
17/06/11 Nirbhay Kumar/Indian Express
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