No money for salaries: Arvind Jadhav tells Air India Unions

Mumbai: The head of India's national carrier has told his employees that the airline was in dire straits and would find it difficult to pay salaries. The official, Arvind Jadhav , the chairman and managing director of Air India, was addressing a closed-door meeting of representatives of trade unions in New Delhi on Monday.
Jadhav painted a bleak picture of the future of the state-owned airline, that was set up by the Tatas in 1932 and nationalised in 1953. The government was reluctant to put in more money and a restructuring of Air India's mountain of debt, around Rs 44,000 crore, was taking longer than expected, Jadhav said in the course of the meeting, which sent on for over eight hours. The contents of Jadhav's address was described by three people present at the meeting The 30,000 employees will have to brace themselves for hard times because paying salaries on time will be difficult as the "airline is left with no money," Jadhav was quoted as saying. "Where will I get the money to pay salaries now is a concern," one of the union members present at the meeting quoting the CMD as saying.
Officials representing the major unions of Air India, including The Air India Cabin Crew Association, Air India Employees Guild, the Indian Pilots Guild and Indian Commercial Pilots Association were present at the meeting. In a statement, Air India described the meeting as routine.
30/06/11 Manisha Singhal/Economic Times

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Categories: Air India Jun 2011