Air India reportedly eyes ex-Garuda CFO for top finance role

Dhaka: Air India is considering Balagopal Kunduvara, the former chief financial officer of Garuda Indonesia, for its top finance position, according to media reports, citing people familiar with the matter.

Kunduvara recently left Garuda after holding the post for a little over a year. In a social media post, he said his tenure had been relatively brief but coincided with an important period in the airline's transformation.

Before Garuda, he spent more than two decades at Singapore Airlines, which co-owns Air India with the Tata Group.

If appointed, Kunduvara will join as the Indian carrier works to repair its finances. Air India posted a loss of more than INR 220 billion last fiscal year and is seeking INR 100 billion, equivalent to USD 1.1 billion, in funding from its owners.

The turnaround is being led by newly appointed Chief Executive Officer Tewolde Gebremariam, who previously headed Ethiopian Airlines Group.

Tewolde said he will focus on cutting costs. As part of this effort, he is looking to strengthen the airline's underperforming cargo business and integrate key departments at Air India and its low-cost arm, Air India Express.

The airline also faces mounting operational pressure. Fuel costs remain high due to the war in Iran, while traffic to the Middle East has dropped.

In addition, Pakistan's airspace remains closed to Air India, forcing westbound flights from its main hub in New Delhi to take a longer route.

To work around the restriction, the CEO is considering whether more flights to Europe and the US should be routed through Mumbai instead of Delhi.