Tata Sons today appointed Ilker Ayci as Chief executive officer (CEO) and Managing Director (MD) of Air India. Ayci will assume his responsibilities on or before April 1, 2022, Tata Sons said in a statement.
The Air India board met on Monday afternoon to consider the candidature of Ilker Ayci. The board, after deliberations, has approved the appointment, Tata Sons said in the statement.
Chairman of Tata Sons N Chandrasekaran was a special invitee to the board meeting.
Ilker Ayci was the chairman of Turkish Airlines and he was on the board of the company prior to that.
“Ilker is an aviation industry leader who led Turkish Airlines to its current success during his tenure there. We are delighted to welcome Ilker to the Tata group where he would lead Air India into a new era.”
On January 27, Tatas took over control of Air India, its subsidiary Air India Express as well as a 50 percent stake in joint venture AISATS.
Through a competitive bidding process, the government sold loss-making Air India to Talace for Rs 18,000 crore. As part of the deal, Talace paid Rs 2,700 crore in cash and took over Rs 15,300 crore debt of the airline. The remaining debt and borrowings of Air India were transferred to Air India Assets Holding Ltd. (AIAHL).