Tata Sons chief N Chandrasekaran appointed chairman of Air India

Tata Sons chief Natarajan Chandrasekaran was appointed as chairman of Air India on Monday. The development came days after Ilker Ayci, former chairman of Turkish Airlines, turned down the Tata Group's offer to be chief executive officer and managing director of Air India.

The home-grown airline was bought out by the Tatas in a $2.4 billion equity and debt deal in October last year. The Tata group bought it back from the federal government following 69 years in state ownership.

Ayci, who oversaw extensive cost-cutting at Turkish Airlines -- was chosen as the debt-ridden carrier's first CEO in mid-February. However, on 1 March , he declined the offer. The reason for the same was not revealed.

Before heading Tata Sons, Chandrasekaran was chairman of Tata Consultancy Services. He was the third non-Tata, after Nowroji Saklatwala and Cyrus Mistry, to hold the position. 

The 53-year-old Tata veteran started as a software programmer in 1987. He rose through the ranks to take the top job when he was just 46 and become one of the youngest CEOs in the Tata group.

In 2016, he joined the board of Tata Sons and took over as Chairman in 2017. 

The Tata group operates four separate airlines in India and has been looking to impose wholesale change at the top of Air India as it seeks to revive the ailing carrier.