Air India Considers Balagopal Kunduvara as CFO After Record Loss

Air India is considering the appointment of Balagopal Kunduvara as its chief financial officer to stabilize the carrier's finances. The move follows a record loss of more than ₹22,000 crore during the last fiscal year.

Kunduvara, a veteran of Singapore Airlines and former finance chief of Garuda Indonesia, is a frontrunner for the role. His potential appointment coincides with the airline's request for ₹10,000 crore ($1.1 billion) in funding from its owners, the Tata Group and Singapore Airlines.

Under CEO Tewolde Gebremariam, the airline is executing a turnaround strategy centered on cost-cutting, improving its cargo business, and integrating departments with Air India Express. The carrier continues to face operational challenges, including high fuel costs and restrictions on Pakistani airspace that force flights from New Delhi to take circuitous routes.