No demerger of AI-Indian Airlines

Mumbai: Aviation Minister Praful Patel told UTVi that there are no plans to demerge Air India and Indian Airlines.
On the on-going liquidity crisis at Air India, Patel said concrete steps to improve the liquidity situation will be taken by the end of the week.
Arvind Jadhav, chairman and managing director, Air India, met civil aviation secretary Madhavan Nambiar and T K A Nair, principal secretary in the Prime Minister's Office (PMO), on a possible bailout package yesterday but no decision was taken at the meeting.
The carrier is also working on plans to cut employee costs by up to Rs 500 crore per annum.
Air India had asked its senior management last week to voluntarily forgo salaries and productivity-linked incentives in July due to an on-going liquidity crunch.
23/06/09 Shuchi Srivastava/UTVi

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Categories: NACIL Jun 2009