Bansal has served as CMD of Air India for around a year in 2017 before going back to the oil & gas ministry.
In
between the privatisation process of Air
India, the government appointed Rajiv Bansal, an additional
secretary with the oil and gas ministry, as the new boss of the
state-owned airline.
He
will replace Ashwani Lohani, the current Chairman & Managing
Director (CMD), who didn’t agree to extend his one-year contract,
which expired on February 11.
Rajiv
Bansal has served as CMD of Air India for around a year in 2017
before going back to the oil & gas ministry.
Lohani,
who was reappointed Air India CMD in 2019, had earlier held the
position for around two years from 2015. In August 2017, he was named
the Chairman to the Railway Board. He retired on December 31, 2018.
Sources
aware of the development said Lohani didn’t agree to extending his
one-year contract as he didn’t see an opportunity for growth.
“He
wasn’t very happy as there were cap on expansion and growth plans
due to the ongoing disinvestment process, he didn't want to be
remembered as the last CMD of Air India as it now exists,” the
person said.
The
government has undertaken for the third time the process to privatise
Air India after a failed attempt in 2017. As part of the process, the
Department of Private Assets and Management has put limits on any
capex expansion plans of the airline.
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