New Delhi: Air India's new chief in a letter has described the airline's problems as "major, but not insurmountable" and its financial position 'precarious'.
Ashwani Lohani also said in the letter sent out on Sunday that he is trying to check the exodus of AI's pilots. The airline has been deducting 25% of the pilots' pay for some years now and this has been a big reason for the spate of resignations.
"This (25% pay cut) bothers me also and I would therefore like to assure you that the management is absolutely clear this pending amount belongs to the employees and should therefore be released," Lohani said in the letter addressed to "Air Indians" which includes the pilots.
But given AI's financial condition - the airline is saddled with a debt of Rs 40,000 crore for aircraft purchase and working capital apart from having accumulated losses of Rs 30,000 crore - the pilots will have to wait.
"Many of you would also be aware of the precarious financial position of Air India at present. This restrains us but... we have started taking all steps to enhance revenue and with emerging positive trends, the amount due would be released in fair installments as soon as the financial position permits," Lohani's letter said.
18/11/15 Saurabh Sinha/Times of India
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Ashwani Lohani also said in the letter sent out on Sunday that he is trying to check the exodus of AI's pilots. The airline has been deducting 25% of the pilots' pay for some years now and this has been a big reason for the spate of resignations.
"This (25% pay cut) bothers me also and I would therefore like to assure you that the management is absolutely clear this pending amount belongs to the employees and should therefore be released," Lohani said in the letter addressed to "Air Indians" which includes the pilots.
But given AI's financial condition - the airline is saddled with a debt of Rs 40,000 crore for aircraft purchase and working capital apart from having accumulated losses of Rs 30,000 crore - the pilots will have to wait.
"Many of you would also be aware of the precarious financial position of Air India at present. This restrains us but... we have started taking all steps to enhance revenue and with emerging positive trends, the amount due would be released in fair installments as soon as the financial position permits," Lohani's letter said.
18/11/15 Saurabh Sinha/Times of India
