The pressure is mounting on Air India's board. Sources close to the Department for Promotion of Industry and Internal Trade confirm the government is preparing a contingency plan. Nationalisation is back on the table.

Leaks from the committee of inquiry suggest the final report will be damning. Maintenance failures. Crew fatigue. A culture of cutting corners. The phrase 'systemic failure' keeps coming up.

Inside the Ministry of Civil Aviation, the mood is febrile. Officials are bracing for a political firestorm. The opposition is sharpening its knives. Already, the transport select committee has called for an emergency session.

But here's the real story. The real power struggle. It's not just about a crash. It's about control. Air India's chairman has been summoned to Whitehall. A private meeting with the permanent secretary. No notes. No minutes.

I'm hearing the CEO of the flag carrier is fighting for his job. His allies in the City are worried. The share price has halved in a week. Bond yields are spiking. This is a full-blown confidence crisis.

And the timing could not be worse. The government is trying to sell a minority stake. Interest from overseas funds had been promising. Now, they are ghosting the Treasury. One source said: 'They want to see the report first.'

Meanwhile, on the backbenches, the usual suspects are circling. A letter of no confidence is being drafted. Not against the minister, but against the chairman himself. The signatories are a mix of old Labour and new Tory. Unusual bedfellows.

The final report is due next week. The government is praying for a miracle. But the leaks suggest otherwise. A senior safety inspector told me: 'This is the worst I've seen in 30 years.'

Stay tuned. This is far from over.