Bhushan takes charge as managing director of Air India

Monday, 27 April 2009, 12:45 Hrs
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Mumbai:E.K. Bharat Bhushan, who currently serves as joint secretary and financial adviser in the civil aviation ministry, has assumed charge as the interim chairman and managing director of the state-run National Civil Aviation Co of India Ltd (NACIL).

A spokesperson of NACIL, which owns India's flagship carrier Air India, said here Monday that Bhushan would also continue to serve as joint secretary in the ministry.

Unhappy with the performance of Air India, the government Friday decided to appoint Bhushan as the interim chairman and managing director, replacing the incumbent Raghu Menon.

Bhushan is expected to continue till the government finds a new full-time chairman and managing director. "But it would not happen before the new government takes over," the spokesperson said.

The government is yet to decide on Menon's new role. Currently, he is on a long leave till late next month.

A list of names has been forwarded to the Appointments Committee of the Cabinet for finding a regular chief to run NACIL, which was formed last year after Indian Airlines was merged with Air India.

The change has come in the backdrop of falling market share of the state-run carrier even though it is going through a major fleet expansion programme to induct 111 new Boeing and Airbus aircraft over the next few years.

The company has already sought 2,500 crore from the government in the form of equity and soft loan to finance the fleet expansion.
Source: IANS
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