The holding company, Talace, has meanwhile selected the members for the board of the national carrier before its official takeover in January 2022
Tata Sons has decided to have an expat CEO to lead Air India. The new CEO will have the responsibility of getting his team, according to a report in ET. The holding company, Talace, has meanwhile selected the members for the board of the national carrier before its official takeover in January 2022.
The names of the officials on the board will be announced in January 2022. They will be from Tata Sons’ M&A team, group aviation experts and a retired government official as an independent director on the boaed. Traditionally, the Chairman of Tata Sons is the chairman of all major operating companies in the group and it is likely to be so for Talace. So, the mantle will fall on Tata Sons Chairman N Chandrasekaran.
“Costs will start ticking on the books of Tatas from January next year such as salaries to be paid to employees, refurbishing aircraft and quality control expenses.”
Talace Ltd, which has Air India and Air Asia under its umbrella, the report said, is working on a financial plan for working capital requirements. “Costs will start ticking on the books of Tatas from January next year such as salaries to be paid to employees, refurbishing aircraft and quality control expenses,” an official in the team was quoted saying. Tata Sons has had meetings with the senior management of AirAsia India and Air India to discuss the integration of staff, aircraft quality and safety checks, among other matters.
Meanwhile, the seven board members of Air India have been asked to resign. These include four functional directors, two government nominee directors, the Chairman and Managing Director. “The board of directors have to resign… (before the transfer of control) takes place after the (last) board meeting of Air India,” an airline official, requesting anonymity, was quoted saying to ET. He added that the board members were asked to resign at a meeting on November 15.
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