Air India holds a board meeting related to cost management and financial performance, and the plan for the succession of the next Air India CEO. The Tata group-owned carrier is going through higher fuel expenses due to the ongoing tensions in West Asia.
Air India may record losses of Rs 22,000 crore. According to reports, the board meeting of Air India airline has discussed a few measures to improve profitability, Pakistan airspace for Indian airlines, and longer flight durations. Air India airlines has reduced 1034 international airlines, as per aviation analytics firm Cirium. The airline has reduced its international departures by 288. Annual increments and workforce salaries were also discussed in the Air India airline board meeting. The board also checked additional cost-management initiatives, as some international flights have become less profitable. The purpose of the board meeting was to discuss about the next CEO.
Air India continues its multiyear transformation programme under network expansion and integrating businesses after privatisation. The CEO of Air India told staff in an internal meeting that the airline is reducing flights and these expenses would continue for the next three months.
Due to fuel price increase, longer flying routes and Pakistan airspace closure, the international flights are currently unprofitable to run.
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