Kharola appointed Air India Chief MD

Bangalore Metro Rail Corporation Limited (BMRCL) Managing Director Pradeep Singh Kharola, who was empaneled for secretary posts in May, has been appointed chairman and managing director of Air India.

Kharola, known for his efforts in infusing private investment in metro projects through innovative funding, is expected to help the ailing airline which is set for privatisation.

The government has been working on selling Air India and NITI Ayog has made recommendations for unbundling the assets of the airline which has an accumulated debt of nearly Rs 50,000 crore.

Recently, there have been reports that Air India may not get the Rs 21,000 crore equity infusion, part of Rs 50,000 crore promised during the UPA regime.

There was no clarity on Kharola's successor for BMRCL. Kharola leaves the corporation, which had just 8 km of metro line in operation when he came in in 2013, after successfully completing the Phase 1. The corporation is also looking forward to enter the profit-making era with the revenue taking over operational cost in recent months.