AI sets up committee, to submit revamp blueprint in a month

New Delhi: National carrier Air India Ltd has set up a committee to recommend a revival programme after the government said that any state rescue would be accompanied by restructuring and cost-cutting conditions.
The panel, comprising management and union representatives, was set up after meetings between Arvind Jadhav, chairman and managing director, and the unions, the airline said in a release on Thursday.
The union representatives have been asked to make presentations identifying areas where savings can be effected, said the carrier, struggling to cope with a drop in air travel and losses of Rs5,000 crore last year. “Air India will have to give us a time-bound programme that will involve financial and manpower restructuring,” civil aviation minister Praful Patel said in New Delhi on Wednesday.
Air India will have to submit the restructuring plan in a month to a panel of government officials. Once government approves the plan, the panel will periodically review Air India’ progress.
25/06/09 Pratik Parija/Bloomberg/Livemint

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Categories: NACIL Jun 2009