New Delhi, Aug 1 - Yashwant S. Bhave Saturday took over as the first chairperson of the newly constituted Airports Economic Regulatory Authority (AERA), a watchdog that will look at issues such as the tariff for various ground operations and landing fees for airlines.

Bhave, a retired Indian Administrative Service (IAS) officer, has held different positions in the government of Maharashtra such as chief executive of Maharashtra Industrial Development Corporation and managing director of Small Scale Industries Development Corporation.

He has also served in the department of administrative reforms, pensions and public grievances as well as special secretary (telecom) and secretary (Telecom Commission).

Bhave's appointment comes at a time when private airline operators have threatened not to fly on Aug 18 if the government fails to announce a bailout package to help them tide over the economic crisis which they claim has escalated their collective losses to over $2 billion.