Air India CEO search narrows to Singapore Air exec Kannan and insider Aggarwal, sources say

NEW DELHI, May 2 (Reuters) – Singapore Airlines executive Vinod Kannan and Air India chief commercial officer Nipun Aggarwal are the two frontrunners to become Air India’s new chief executive, 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 Zealand’s Campbell Wilson said last month he was resigning as the airline faced persistent losses and regulatory scrutiny.

The board of directors of Tata Sons, the airline’s majority owner, is discussing both names, one of the sources said. No final decision has been made yet and it is possible that another candidate will emerge as the favourite.

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 owns about 25% of Air India, with the rest being held by Tata Sons.

The selection of a new CEO comes at a crucial time for Air India, which is grappling with heavy losses, intensified regulatory scrutiny following last year’s fatal crash and operational disruptions from the Iran war, which has increased costs and compounded the effects of Pakistan’s airspace ban.

Pakistan banned Indian aircraft carriers from its airspace last April following military tensions between the two neighbors.

Kannan, who currently serves as senior vice president of sales and marketing at Singapore Airlines, was previously CEO of Vistara, the former joint venture between Tata and Singapore Airlines that was merged with Air India.

An experienced aviation professional, Kannan began his career with Singapore Airlines in 2001 and has held various roles at the airline since then.

Aggarwal joined Air India in January 2022 following the loss-making airline’s takeover by Tata Sons from the Indian government. According to Air India’s website, he played a key role in the transformation of several Tata Group companies between 2017 and 2022.

He also previously worked in investment banking at Bank of America Merrill Lynch.

(Reporting by Abhijith Ganapavaram, Aditya Kalra; Editing by Sharon Singleton)