{
  "id": 14647668,
  "title": "Air India forms team to drive cost savings, memo shows, it deals with host of problems",
  "url": "https://urgent.news/2026/10/15/air-india-forms-team-to-drive-cost-savings-memo-shows-it-deals-with",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-15T08:04:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/air-india-forms-team-to-drive-cost-savings-memo-shows-it-deals-with-host-of-problems"
  },
  "original_language": "en",
  "account": "BENGALURU – Air India has formed a specialized team to pinpoint opportunities for cutting costs across various aspects of its operations, according to an internal memo from the airline's CEO, Tewolde Gebremariam. The airline is grappling with a multitude of issues, including airspace disruptions, the Middle East conflict, and soaring jet fuel expenses. CEO Gebremariam, who assumed his role on August 5th, is charged with the task of steering Air India back to profitability following a staggering loss of US$2.3 billion (S$2.95 billion) in the fiscal year that concluded in March. The carrier has also been under intense regulatory scrutiny in the wake of a fatal crash that claimed the lives of 260 people in June 2025. In the midst of these challenges, Air India has reportedly sought approximately US$1.5 billion in fresh equity from its owners, Tata Sons and Singapore Airlines. The airline's problems are further compounded by safety lapses, such as operating aircraft without valid certifications, and by international disruptions like Pakistan's airspace ban and conflicts in the Middle East. These disruptions have led to longer routes, cancellations, and reductions in international services. Additionally, the airline's attempts to modernize its aging fleet have been hampered by shortages of vital parts, which has delayed cabin upgrades. Air India is also seeking to defer the delivery of hundreds of aircraft on order in order to reduce costs. The new CEO's mission is to turn around the airline, which has not posted a profit since it returned to private ownership in 2022.",
  "summary": "New CEO tasked to turn around airline, which has not made a profit since being taken private in 2022.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}