AI to secure funds to pay salaries

MUMBAI: Air India, the loss-making national carrier, on Thursday said it was in talks with financial institutions to secure funds to pay salaries to its staff by November 10, as its pilots threatened to go on strike once again.

"Air India is in discussion with financial institutions to secure additional funds to meet its current liabilities, including payment towards salary and productivity-linked incentive to employees," the National Aviation Company of India, which runs the carrier, said in a statement.

The funds raised would also enable the airline to pay incentives and flying allowance to employees, it said. The fund-raising efforts follows pilots��� threat to strike from November 1, which may be non-co-operation this time instead of a not turning up for work. It has an accumulated loss of Rs 7,200 crore.