Mumbai, August 7: Tewolde Gebremariam has been appointed as the new CEO and Managing Director of Air India, effective August 5. He succeeds Campbell Wilson, who resigned from the position in 2024. Gebremariam, previously the Group CEO of Ethiopian Airlines, is recognized as one of Africa’s most successful aviation leaders. Under his leadership, Ethiopian Airlines expanded rapidly, becoming the largest airline in Africa, with its fleet growing from 33 to 130 aircraft. The number of annual passengers soared from 3 million to 12 million before the COVID-19 pandemic.
Air India, established on October 15, 1932, was nationalized by the Government of India in 1953. In January 2022, it came under the ownership of the Tata Group.
In other news, the Cabinet Secretary T.V. Somnathan’s term has been extended for another year, allowing him to remain in office until August 30, 2027. Somnathan, an IAS officer from the 1987 batch of the Tamil Nadu cadre, was appointed Cabinet Secretary in August 2024.
Additionally, the Lok Sabha passed the Bankers Books Evidence Bill on August 5, which will replace the outdated Bankers Books Evidence Act of 1891. This new legislation will allow electronic bank documents to be presented as legal evidence in courts, reflecting the technological advancements in the banking sector.
Furthermore, the Reserve Bank of India (RBI) announced plans to launch polymer currency notes of ₹10 and ₹20 by 2027, with testing already approved by the central government. These notes are designed to be more durable and secure compared to traditional paper currency.