Air India’s new CEO tightens spending as losses mount

New Delhi: Less than a month after taking over as chief executive of Air India, Tewolde Gebremariam has initiated belt-tightening measures to counter mounting losses and rising operating costs. The airline has set up a dedicated team to identify cost savings across the group and tightened spending approvals, even as external shocks complicate its turnaround efforts. The Air India Group includes the flagship airline and its budget carrier, Air India Express.The measures were announced on 12 October via the company’s…