In a major development, Ashwani Lohani has been appointed as the CMD of Air India. Notably, Lohani had earlier taken charge at the state-run carrier as its Chairman and Managing Director in August 2015, even as the airline was facing various unresolved issues related to the Air India-Indian Airlines merger. Recently, he retired as the Railway Board Chairman on December 31st 2018. Lohani was appointed chairman of the Railway Board after A K Mital resigned in August 2017, following the derailment of the Kaifiyat Express near Auriya in Uttar Pradesh. He has been appointed on a contract basis, according to the statement. Notably, Ashwani Lohani is an Retired IRSME officer, and held significant posts including former Chairman of the Indian Railway Board and former Chairman & Managing Director of Air India.\u00a0He started his career as an assistant electrical engineer in February, 1982, according to a PTI report.\u00a0His appointment comes at a time when the government is looking to divest its stake in the state-run carrier. Also read:\u00a0First-gen entrepreneurs including Byju and OYO founders among the finalists in EY\u2019s Entrepreneur Award 2018 Meanwhile, the government has offered to sell 100% stake in Air India\u2019s subsidiary Air India Air Transport Services Ltd (AIATSL). Resuming the divestment process for the ailing airline, the preliminary information memorandum for disinvestment of AIATSL, the ground handling arm, was issued on Tuesday. The government would offload 98% stake through strategic sale and the remaining 2% would be offered to the employees of AIATSL.