The Air India is in troubled waters as the government has decided to partially disinvest its stakes. A two-year deadline has been set to end the financial crisis.

It is also believed that the top management will be changed within the next 30 days and a new CEO will be appointed. Apart from this, seven independent directors will be appointed to run the airline.

The Civil Aviation Minister Praful Patel met the Prime Minister Manmohan Singh for a Rs 10,000 crore bailout after the airlines showed a loss of Rs. 4,000 crores.

Arvind Jadhav CMD, Air India said, “Considering the critical financial state of the airline, we should all be prepared to face the impact of harsh decisions that will be required to be taken in the coming weeks to meet the current difficult financial situation.”

Speaking on the issue, the minister said that the government will not sack the employees and will honor the commitments.