Air India CEO Tewolde Gebremariam unveiled a full‑time multidisciplinary cost‑saving team on May 1, 2026 in New Delhi, following the airline's $2.3 billion loss for the 2025‑26 financial year.
The loss eclipses the $5.7 billion cumulative deficit since Tata Group’s takeover in 2022, amplified by a 20% rupee depreciation, soaring jet‑fuel prices, and the fatal Ahmedabad crash last June.
The team, drawn from finance, operations, procurement and HR, will audit every line item, challenge each expense, and propose savings that embed frugality and accountability across the organisation. “Cost saving requires active participation and commitment of every employee,” Gebremariam said during the launch.
Air India targets a 15% reduction of its annual spend, roughly $1.5 billion, over the next twelve months. Executives will track progress through quarterly dashboards and report findings to the board.
The board’s next meeting, set for September 15, 2026, will review the first set of savings proposals and decide on implementation timelines. Executives say the initiative is a critical step toward restoring financial resilience and keeping the airline competitive in a volatile market.