Mr Lohani replaces Rohit Nandan, whose extended tenure ends on Friday.
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IRSME official Ashwani Lohani was today appointed as Chairman and Managing Director (CMD) of national carrier Air India Ltd for three years. The first extension came on August 11, last year, after he completed a three-year term at the helm of Air India, steering it through a hard phase of merger with the direction that “the process of selection of a new CMD may be completed in the meantime”. Lohani’s experience of running PSUs goes back to 2002, when he was the CMD of Indian Tourism Development Corporation (ITDC), where he was credited with turning around Delhi’s Ashoka Hotel by making it profitable following years of losses.
Air India had reported a net loss of Rs 5,547 crore in 2014-15.
The Appointments Committee of the Cabinet on Thursday announced Lohani’s name and is it widely expected that outgoing CMD Nandan will remain for another month till he gets a posting as a secretary to the government of India.
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However, following its failure to meet certain parameters, which are stipulated in the TAP, the Government had in June asked the SBI Capital Markets to review the airline’s TAP and submit the report within three months.
