The Govt might consider a successor to Air India Chairman and managing director Arvind Jadhav, once the financial restructuring plan is cleared. The civil aviation ministry has also reached a consensus to give a five-year term to the next CMD of the ailing state-owned airline.

Jadhav’s three-year term ends in May 2012 and the 1978 batch IAS officer will have a couple of months in office after the restructuring exercise. Jadhav might also become a secretary in the civil aviation ministry by mid-October 2012 and it was unlikely that he will continue as the chairman.

Top ministry officials said Jadhav had indicated that the implementation of the restructuring plan would take at least five years and a new management team should be at the helm of affairs in the company. The airlines also has to appoint two new directors — Director (finance) and Director (Personnel).