They have weathered many a storm and managed to steer their businesses to safety and profitability more than once. But even with those impeccable credentials, Kumarmangalam Birla and YC Deveshwar who have been named on the board of loss-making Air India as non-official directors could find pulling the airline out of its tailspin a herculean task.
The reason is simple. The national carrier has long been dragged down by the bane of India’s public sector companies — patronage and bureaucracy. One hopes that the two corporate chieftains come on board with adequate insurance against interference from ministers and babus or this exercise too could meet the same fate as the one which the government of the time attempted eight years back.
Not only do the fresh appointments mean little, they also come at a time when the present NDA government seems to have all but abandoned plans for strategic disinvestment of Air India. In fact, the appointments and the government’s statements in Parliament show how reluctant it is to let go of Air India.
02/08/18 Sindhu Bhattacharya/CNBC TV18
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The reason is simple. The national carrier has long been dragged down by the bane of India’s public sector companies — patronage and bureaucracy. One hopes that the two corporate chieftains come on board with adequate insurance against interference from ministers and babus or this exercise too could meet the same fate as the one which the government of the time attempted eight years back.
Not only do the fresh appointments mean little, they also come at a time when the present NDA government seems to have all but abandoned plans for strategic disinvestment of Air India. In fact, the appointments and the government’s statements in Parliament show how reluctant it is to let go of Air India.
02/08/18 Sindhu Bhattacharya/CNBC TV18
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