Air India makes presentation to govt before Budget

New Delhi: Cash-strapped Air India on Tuesday made a presentation before Civil Aviation Minister Praful Patel as part of its efforts to seek a financial package from the government to bail it out of a major resource crunch.
The national carrier, which is working on plans to cut cost on employees by at least Rs 500 crore, came out with several proposals to enhance savings over the next few years. The airline's cost on its 31,000 employees currently stands at around Rs 3,000 crore per annum.
The presentation made by Air India CMD Arvind Jadhav, which lasted almost three hours, was attended by Patel and Civil Aviation Secretary M Madhavan Nambiar among others.
Jadhav is understood to have briefed Principal Secretary to the Prime Minister T K A Nair yesterday on the airline's financial position, apart from its growth plans for the next few years.
All officials were tight-lipped about today's meeting, which came less than a fortnight before the presentation of the general Budget amid expectations that the government may take some steps to ease the national carrier's financial problems.
23/06/09 PTI/Economic Times

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Categories: NACIL Jun 2009