New Delhi: In a bid to avoid repeat of the Kingfisher fiasco, the aviation ministry is going to keep a constant tab on financial health of airlines. Aviation minister Ajit Singh has decided to create a "financial analysis unit" in the ministry that will look for initial signs of strain in an airline - usually delay in payment to employees, airports, oil companies and default in TDS. The unit will then alert the safety regulator to keep a tab on the airline's operations to ensure that safety aspect is not being compromised by the financial crunch.
"Financial health of an airline has a direct bearing on the safety of its operations and therefore needs to be constantly monitored. The directorate general of civil aviation (DGCA) does financial surveillance of airlines. But, it is a technical organization that has to focus on safety and not on economic health of airlines," said aviation minister Ajit Singh.
26/09/13 Times of India
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"Financial health of an airline has a direct bearing on the safety of its operations and therefore needs to be constantly monitored. The directorate general of civil aviation (DGCA) does financial surveillance of airlines. But, it is a technical organization that has to focus on safety and not on economic health of airlines," said aviation minister Ajit Singh.
26/09/13 Times of India
