Govt must infuse equity in Air India: Former MD

Air India is going through turbulence and it may soon get a get a helping hand from the government in the Budget. It has deferred June salaries by 15 days and senior executives have even forgone their salaries. But the situation is dire and employee unrest looms large.
Commenting on how the Maharaja can be nursed back to health, V Thulasidas, Former MD, Air India, said, equity infusion by the government is a must in the current situation. “It will have to come out with a plan to convince the government that it can manage to bring the airline back to a sound footing by way of completing its merger process, which should be priority number one, and its marketing so that revenues come in.”
Meanwhile, Dinesh A Keskar, President, Boeing India, said, "We have not seen any Air India deferrers. In fact, we have a delivery of AI 777 next week. I understand the difficulty the airline is going through. But air plans are not built overnight. It takes a long process. The deal was signed three years ago and there is a schedule in the deal that we are basically trying to manage."
22/06/09 CNBC-TV18/Moneycontrol.com

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Categories: NACIL Jun 2009