Tata eyes new Air India management as sale proceeds

Dhaka: Tata Sons Pvt is looking at hiring several key executives for Air India Ltd, according to reports, as the nation’s biggest conglomerate works to finalise a turnaround plan for the debt-laden carrier it is in the process of taking over from the state.

The group, which in October won a bid to regain control of the airline it originally launched in 1932, is considering both internal and external candidates for roles including the CEO of Air India and a chief financial officer, said reports.

Among the potential hires is Fred Reid, a former executive with Virgin America Inc and AirBnb Inc, as well as Nipun Aggarwal, a former US-based banker-turned Tata executive, the reports added.

Deliberations are still ongoing and no decision has been reached, they further mentioned, adding, Reid could be CEO and Aggarwal CFO.

Tata is working with the Indian government to complete the takeover and “will refrain from commenting on any speculation till such time the deal is concluded,” a Tata Sons spokesperson said.

Tata Sons – which got the go ahead to buy Air India after offering USD 2.4 billion – faces an uphill task to revive a carrier that has not made money since its 2007 merger with domestic operator Indian Airlines.

The group already runs two unprofitable joint ventures with Singapore Airlines Ltd and AirAsia Group Bhd in the country.

While Tata Sons eventually plans to merge all its aviation businesses together into one brand, it first plans to sort out the issues with Air India’s employees’ union and let go of excess staff after a mandatory waiting period, reports claimed.

A meeting scheduled for later this month will help shape the business’s overall strategic direction, another report noted.