New Delhi: Air India's various attempts to turn its operations around may have failed earlier, yet, judging by the series of initiatives undertaken by the airline and the results thus far, industry observers are saying that perhaps this time it may just manage to pull it off. It has been 18 months since the government granted the state-owned carrier a performance-linked bailout package of over Rs 30,000 crore, and the first results have started to trickle in. Indications are that a turnaround could happen in a few short years, provided there are no major disruptions during the period.
Despite initial hiccups over execution of some of the key measures outlined in the turnaround plan, Air India has managed to prune its massive workforce by around half since the beginning of this financial year. The airline has put into service fuel-efficient Dreamliners on long-haul routes for operational viability and has set the ball rolling on its ambitious asset-monetisation programme to reduce debt liabilities.
The first element in Air India's three-pronged strategy to achieve operational stability has been the restructuring of the company into two subsidiaries.
02/10/13 Sharmistha Mukherjee/Business Standard
To Read the News in full at Source, Click the Headline
Despite initial hiccups over execution of some of the key measures outlined in the turnaround plan, Air India has managed to prune its massive workforce by around half since the beginning of this financial year. The airline has put into service fuel-efficient Dreamliners on long-haul routes for operational viability and has set the ball rolling on its ambitious asset-monetisation programme to reduce debt liabilities.
The first element in Air India's three-pronged strategy to achieve operational stability has been the restructuring of the company into two subsidiaries.
02/10/13 Sharmistha Mukherjee/Business Standard
