Delay in staff salary has become necessary: AI Chief
Loans from financial institutions at high interest rates cannot be availed endlessly to meet working capital requirement, AI Chief said in a message to staff.
By PTI |
MUMBAI: Crisis-hit Air India Chief Arvind Jadhav on Saturday said the delay in paying the staff salary has become necessary as the airline is fighting for survival.
"This is an hour of crisis. This is a fight for survival. The survival of our own airline. Jadhav said in a message to National Aviation Corporation India Limited (NACIL) employees.
The aviation industry is going through turbulent times. Yet, Air India, unlike many other airlines, has not retrenched or laid-off of staff till date, he said.
"Air India has only decided to defer salary and PLI for June only by 15 days and requested senior officials to voluntarily forego July salary."
Jadhav said loans from financial institutions at high interest rates cannot be availed endlessly to meet working capital requirement. "Time has come to face the moment of truth in Air India as well."
Air India has approached the Government for infusion of funds. But, as we have seen in the US, the help comes with conditions attached, Jadhav said.
"This is an hour of crisis. This is a fight for survival. The survival of our own airline. Jadhav said in a message to National Aviation Corporation India Limited (NACIL) employees.
The aviation industry is going through turbulent times. Yet, Air India, unlike many other airlines, has not retrenched or laid-off of staff till date, he said.
"Air India has only decided to defer salary and PLI for June only by 15 days and requested senior officials to voluntarily forego July salary."
Jadhav said loans from financial institutions at high interest rates cannot be availed endlessly to meet working capital requirement. "Time has come to face the moment of truth in Air India as well."
Air India has approached the Government for infusion of funds. But, as we have seen in the US, the help comes with conditions attached, Jadhav said.
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