The Indian government has said it will help bail out the ailing state-owned carrier, Air India, but said it must restructure and cut costs and asked the National Aviation Company of India Ltd (Nacil) to present a restructuring plan for Air India within 30 days. The restructuring would include infusion of equity, a possible voluntary retirement scheme to reduce the current 31,000 head count, independent directors on the board and a rejig of top management to get the ailing state airline out of … [Read more...] about INDIA: Air India bail out, but with conditions
Nacil
Air India restructures and replaces MD as losses soar
The Indian government has suggested sharp cutbacks in routes, changes in aircraft deployment and flight timings to reduce losses in National Aviation Company of India Ltd (Nacil) — the state-owned company that runs Air India. Apart from several domestic routes, operations on routes like London and Southeast Asia also need to be restructured, it said adding that it will make Frankfurt its operational hub. Nacil also announced that Ministry of Civil Aviation Joint Secretary and … [Read more...] about Air India restructures and replaces MD as losses soar
