Air India will soon be managed by a board, if a turnaround plan being charted out by the government that involves financial and organization reform is approved, a senior Air India official aware of the development said on condition of anonymity.
“The plan is to make Air India stand on its own feet so that it can be sold in future,” said the official cited above.
Major decisions at a ‘board managed’ company are taken by the directors and not the promoters who are not part of the board. As such, if Air India becomes a board-managed company, it would mean less government interference in the affairs of the carrier.
Civil aviation secretary R.N. Choubey had earlier this week said that the government’s new turnaround plan for Air India should be cleared by September-end. Read More