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Friday, August 12, 2011

Air India Chairman & MD Arvind Jadhav sacked!

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CNN-IBN / Updated Aug 12, 2011 at 11:51am IST.

New Delhi: Air India Chairman and MD Arvind Jadhav was sacked on Friday. IAS Officer Rohit Nandan on Friday replaced Jadhav as the Chairman and MD of the premier airline. A recent RTI query had revealed that Arvind Jadhav had been rejected for the position a year ago as he did not have any experience in aviation.

Air India carries an accumulated loss of Rs 18,000 crore, debt of Rs 40,000 crore and working capital loan of Rs 21,000 crore.

Jadhav has been under fire for mishandling of the pilots strike which led to a loss of several crores to Air India. The morale in the airline is very low as most of the employees are unhappy because their salaries have been delayed by over three months.

Opposition to discuss Air India financial crisis in Parliament

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