AI seeks compensation for delayed delivery by Boeing

Hit by severe cash crunch, the national carrier Air India (AI) is trying every way out to maintain cash flow in the company. The carrier, which is in negotiation with Boeing for compensation over delayed delivery of aircraft, will ask the US aircraft manufacturer to pay entire cash up front.
AI chairman and managing director Arvind Jadhav will meet Boeing India chief Dinesh Keskar on Monday to discuss the issue. “There is no cash in the company. We have to borrow every month to even pay our salaries. A cash payment of compensation by Boeing would ease the situation for a while,” a senior AI official, who did not wish to be named, said. The two firms have been discussing compensation for delay of B-787 Dreamliner planes for a long time.
20/02/11 Parul Chhaparia/mydigitalfc.com

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Categories: Air India Feb 2011