Mumbai: Air India board has convened an emergency board meeting in Mumbai, sources have told CNN-IBN. The meet is likely to discuss appointments of the top brass.
The fate of Air India top executives including Chairman and Managing Director Arvind Jadhav is hanging in balance after the airline's independent directors closed ranks and are ready to tell the Prime Minister's Office that they had lost faith in the airline's leadership.
The independent directors including Anand Mahindra, Harsh Neotia, Amit Mishra, and Air Chief Marshal (retired) Fali H Major and Yussuf Ali are expected to meet Prime Minister Manmohan Singh after he returns from the G20 summit later this month.
The directors have voiced their displeasure at the appointment of Captain Pawan Arora as the new Chief Operating Officer of Air India Express, the airline's international carrier. They allege that they were kept in the dark about Captain Arora's past record.
Jadhav has so far kept mum on the issue.
The national carrier has debt of over Rs 40,000 crore including Rs 19,000 crore in short term. The airline is trying to restructure by reducing interesting rates and increasing the repayment tenure of the debt.
Some officials and independent directors also met Principal Secretary to the Prime Minister TKA Nair on Monday for further equity infusion of Rs 1,200 crore. The Government had already given the beleaguered airline Rs 800 crore in February 2009.
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