A board meeting of Air India is underway, and it is likely to discuss cost-saving plans, as well as the candidature for a new Air India CEO apart from other issues. The meeting is being chaired by Tata Sons Chairman N Chandrasekaran In Air India’s Gurgaon office.
As per the reports,Air India is projecting losses of more than Rs 22,000 crorefor FY26, prompting the management to examine multiple cost-control measures as operating pressures intensify.
Air India to seek financial aid from its shareholders -- Tata Group, as well as Singapore Airlines Ltd. — which owns 25.1% in the carrier as it has suffered larger than projected losses of more than 220 billion rupees ($2.4 billion).
As reported by Bloomberg, the loss for the fiscal year ended March 31 is larger than $1.6 billion internal company loss estimate. The period was marked by deadly crash of a Boeing 787 Dreamliner, the closure of Pakistani airspace to Indian carriers and the Middle East conflict.
Recently, Campbell Wilson announced his resignation as Chief Executive Officer of Air India. Wilson, who led the airline through four years of massive transformation following its privatisation, said the time is right for him to step down as the carrier prepares for its next big phase of growth with hundreds of new aircraft deliveries starting from 2027.
Tata Sons Chairman N Chandrasekaran had told airline employees in a townhall address that Air India is going through a challenging period, and the focus should be on execution.
"Air India has shown great tenacity in dealing with a perfect storm, and we must continue with the same spirit that has been demonstrated," he had said.
Source: India Latest News, Breaking News Today, Top News Headlines | Times Now
