Air India must rebuild trust, tighten costs after record US$2.3 billion loss: chairman
Natarajan Chandrasekaran’s remarks signals strategic importance he continues to place on Air India’s revival
Chairman Natarajan Chandrasekaran of Air India has emphasized the need to rebuild trust and tighten costs, following the airline's record loss of 220 billion rupees (US$2.3 billion) in the previous fiscal year. Speaking at his first town hall since announcing his resignation in February, Chandrasekaran underscored that the airline is in a crucial phase after facing geopolitical disruptions, airspace closures, fuel volatility, and a fatal crash.
He stressed that the carrier must focus on "customer trust, operational execution, and cost discipline" after safety-related issues emerged, including a recent incident where an Airbus SE A320 flight experienced a sudden altitude drop, and the pilot tested positive for illegal drugs. Chandrasekaran highlighted that Air India's safety record should not only match the best airlines globally but should surpass them.
The airline is nearing a financial aid package of 100 billion rupees from its owners, Tata Sons and Singapore Airlines. Chandrasekaran also introduced Tewolde Gebremariam, who will become the new CEO and managing director upon regulatory clearances, marking Tata's decision to bring in globally experienced leadership to aid the carrier's turnaround.
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