NEW DELHI, May 2 (Reuters) – Singapore Airlines executive Vinod Kannan and Air India’s commercial head Nipun Aggarwal are the two frontrunners to become the new CEO of Air India, two sources with direct knowledge of the matter said.
The development suggests the search for a new CEO to lead India’s second-largest airline is nearing completion, after New Zealander Campbell Wilson said last month he had resigned as the airline faced persistent losses and regulatory scrutiny.
The board of Tata Sons, the majority owner of the airline, is discussing both names, one of the sources said. No final decision has been taken and it is possible another candidate may emerge as the favorite.
A spokesperson for Tata Sons did not respond to a request for comment. Air India declined to comment. Aggarwal and Kannan did not respond to text messages seeking comment.
Singapore Airlines holds a roughly 25% stake in Air India, with the rest owned by Tata Sons.
The choice of a new CEO comes at a crucial time for Air India, which is grappling with heavy losses, heightened regulatory scrutiny after a deadly crash last year, and operational disruptions from the Iran war, which has driven up costs and compounded the effects of Pakistan’s airspace ban.
Pakistan banned Indian carriers from its airspace last April following military tension between the two neighbours.
Kannan, who currently serves as senior vice president of sales and marketing at Singapore Airlines, was previously the CEO of Vistara, the former joint venture between Tata and Singapore Airlines that was merged into Air India.
An aviation veteran, Kannan began his career with Singapore Airlines in 2001 and has since held a range of roles across the airline.
Aggarwal joined Air India in January 2022 after the loss-making airline was taken over by Tata Sons from the Indian government. He has played a key role in the transformation of several Tata Group companies between 2017 and 2022, according to Air India’s website.
He also previously worked in investment banking with Bank of America Merrill Lynch.
(Reporting by Abhijith Ganapavaram, Aditya Kalra; Editing by Sharon Singleton)