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AI unions demand postponement of fleet expansion |
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Mumbai: Three unions have demanded Air India to postpone fleet expansion in order to fight liquidity crunch.
The representatives of the unions have submitted their demand to the Chairman and Managing Director Arvind Jadhav of the firm on Saturday.
They met Jadhav a week after the state-run Air India had asked its senior executives to voluntarily sacrifice salaries and productivity-linked incentives in July due to a continuing liquidity crisis. Earlier this month, Air India delayed the salary and incentives of all employees for June by 15 days.
Till this month, the carrier has taken delivery of four planes. A few more are supposed to be added to its fleet this year. Air India plans to add 111 planes in the next three years with an estimated investment of Rs 45,000 crore.
According to a senior official of Nacil, which runs Air India, said that there is a strong possibility that the airline may go slow on taking possession of new planes in order to decide its credit problem. He informed that Jadhav will take a final call on this shortly.
The Air India spokesperson declined to comment. It was learnt that the recently formed cost cutting committee has tabled its proposal to overcome the credit crisis to the top management on July 3. Nacil suffered a loss of about Rs 5,000 crore in 2008-09 and has a working capital overdraft of Rs 15,000 crore.
(Posted on : 01/07/2009)
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| AI unions demand postponement of fleet expansion |
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