Sops for airlines meant to protect jobs: PM

Prime Minister Manmohan Singh has defended the move to give concessions to cash-strapped private airlines saying the bailout was not to help the rich but to save jobs, reports agency sources.
He said that there is an employment angle to be looked at. If airlines close down, there will be a considerable amount of unemployment and the government does not want unemployment to become more acute, more pronounced.
Last month, the government asked state-run oil companies, who themselves had been facing an acute liquidity crunch in view of losses on fuel sales, not to stop ATF supplies to airlines over non-payment of bills.
They were also to give Jet Airways and Kingfisher Airlines time till March to clear their outstanding and extend the period in which payments for future fuel sales are to be made.
The prime minister said whatever Indian industry needs by way of government support to maintain employment and profitability; it is the duty of the government to help.
12/11/08 Myiris.com

To Read the News in full at Source, Click the Headline

Categories: Indian Aviation- In General Nov 2008