New aircraft parts worth more than Rs 10 lakhs and non-aircraft parts worth more than Rs 5 lakh will now be procured only after the approval of the either Director Finance or Executive Director Finance, Air India said on Sunday.
Moreover, the airline in an order stated that if the repair of aircraft parts is going to cost more than Rs 10 lakh, it has to be first approved by the Executive Director Engineering.
This order was issued by Air India’s Director, Finance, Vinod Hejmadi after Civil Aviation Secretary Rajiv Bansal stated that the airline’s disinvestment exercise is likely to complete within the next 10 weeks and only necessary revenue and capital expenses should be carried out till then.
