Air India is in the process of having a seven-member international advisory board, with former top officials of global carriers, to turn the organisation around.

The Board, which is likely to be headed by industrialist Ratan Tata, may have former heads of leading carriers like Lufthansa and Singapore Airlines, sources in the know said.

Discussions are on to finalise the names of other members on this global advisory board, sources said, adding that an advertisement would soon be issued for the newly-created post of Chief Operating Officer so that a professional airline manager works under Chairman cum Managing Director Arvind Jadhav to improve AI's operations.

The names of National Knowledge Commission Chairman Sam Pitroda, Infosys mentor and Chairman N R Narayana Murthy and TCS CMD S Ramadorai are doing the rounds for appointment as independent directors of the airline.

Hectic activity is on at the national carrier's headquarters for preparing a comprehensive financial restructuring plan, which is to be submitted to the government in the next few weeks. AI's losses mounted to about Rs 5,000 crore in 2008-09.

The plan would be vetted by a high-level committee headed by Cabinet Secretary K M Chandrasekhar, which would be monitoring each month the steps taken by the airline to cut cost and enhance revenue generation.