As part of its cost-cutting measures in the State-owned carrier Air India, the Union Government on May 27 appointed five experts from different fields as part-time Directors on the Air India Board, including IIM-Ahmedabad professor Ravindra H Dholakia. Union Civil Aviation Minister Ajit Singh appointed them to utilise their specialised skills to help Air India achieve the targets set by the government through its Turnaround and Financial Restructuring Plans, an official release said.
Besides Dholakia, other non-official part-time Directors are former CEO of Proctor and Gamble, Gurucharan Das, noted academic Prem Vrat, former IAF vice chief Air Marshal (Retd) KK Nohwar and prominent private equity investment manager Renuka Ramnath. The Dholakia panel, which submitted its report in March, had recommended steps to cut costs and increase savings in line with best global practices.
It went into the expenses structure of the company, identified loopholes which led to wasteful expenditure and recommended measures to plug them. The appointments are part of the makeover in the state- owned airline’s Board which would decide on key issues, including leasing out and monetisation of key assets and boost the functioning of the two new engineering and ground handling subsidiaries in the backdrop of heightened competition.