The newly appointed CMD of national carrier Air India, Raghu Menon, said he would soon seek capital infusion from the government to improve the equity base of the airline. However, he ruled out raising money through an initial public offer (IPO) during this year.
Menon, who officially took charge on Tuesday, has many challenges ahead of him during his tenure of 42 months.? Integrating the manpower of the merged entities would be completed in a year?s time. We are also looking at employee stock options (ESOPs) and these schemes should be ready in over six months,? he said.
Menon?s focus would also be on customer care and on-time performance of the aircraft.
?We shall enhance the airline?s productivity by rationalising routes. We are in the process of operationalising our affiliation with Star Alliance,? said Menon, adding that he hopes that Maharashtra, like other states, attracts a reduced sales tax on jet fuel.
