Air India shortlists former Singapore Airlines executive Balagopal Kunduvara for CFO role

New Delhi: Air India has shortlisted Balagopal Kunduvara, a former senior executive at Singapore Airlines and former finance chief of Garuda Indonesia, for the position of chief financial officer (CFO), as the Tata Group-owned carrier seeks to strengthen its financial management amid mounting losses and an ongoing cost-reduction exercise.

Kunduvara, who spent more than two decades at Singapore Airlines, has emerged as a frontrunner for the position, according to people familiar with the development. He recently left his position as CFO of Garuda Indonesia, where he had served for a little over a year.

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His potential appointment comes at a critical juncture for Air India, which is attempting to rein in costs and return to profitability after reporting losses of more than Rs 22,000 crore in the last financial year. The airline's new chief executive, Tewolde Gebremariam, has identified cost reduction and improving operational efficiency as key priorities in the carrier's turnaround strategy.

Air India has set up a dedicated cross-functional team to identify savings across its operations and tightened expenditure approval processes. The airline is also looking to integrate key functions between Air India and its low-cost subsidiary, Air India Express, to improve efficiencies and eliminate duplication.

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Kunduvara's experience at Singapore Airlines, one of Air India's shareholders, could be particularly relevant as the Indian carrier attempts to improve financial discipline while continuing with its ambitious fleet expansion and transformation programme. Singapore Airlines holds a stake in Air India alongside the Tata Group.

The airline is also facing pressure from elevated aviation turbine fuel prices and geopolitical disruptions, including restrictions on the use of Pakistani airspace, which have increased flying times and operating costs on several westbound routes.