Madhya Pradesh Tourism Development Corporation’s managing director Ashwani Lohani has been appointed as chairman and managing director (MD) of national carrier Air India, senior officials of the airline told FE.
Lohani replaces the current managing director and chairman of the airline, Rohit Nandan, whose extended tenure ends on August 21.
Nandan’s three-year term as chief of the national carrier had originally ended in 2014 but the Indian Administrative Service (IAS) officer was given a year’s extension by the government.
Lohani, who is a 1980 batch officer of the Indian Railway Service of Mechanical Engineers (IRSME), has been given a three-year term after his appointment was approved by the appointments committee of the Cabinet.
Air India, which carriers a fifth of the total domestic passengers, had earlier reported a net loss of Rs 5,547 crore for 2014-15. The airline’s net debt stood at over Rs 44,000 crore at the end of June 30, 2015. The challenges before Lohani would be to bring the airline back to profitability.