Air India looks to rejig contracts, insource services
Executive Brief • Key Highlights
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- ✓Air India is looking to cut costs through contract rejigs and insourcing services to strengthen its financial position.
- ✓CEO Tewolde Gebremariam said, "Cost savings cannot be driven by a single team or function alone; it requires the active participation and commitment of every employee." The airline started the PRABHAV programme.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Tata Group-promoted Air India is looking to cut costs through contract rejigs and insourcing of services as part of efforts to strengthen the airline's financial position.
Accordingly, the airline has invited employees to suggest cost-saving and revenue-enhancing measures under its programme 'PRABHAV', said CEO and MD Tewolde Gebremariam in a memo to employees, which was reviewed by businessline.
Besides the employee-led cost-saving drive, the airline's board has considered a broader set of measures to enhance efficiency, drive up synergies between Air India and Air India Express and strengthen the Group's financial position at a meeting on Thursday (October 15).
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