Thursday, June 28, 2018

Rising fuel prices force Air India to take austerity measures

While the government tries to find a way to take the failed divestment of fund-starved Air India forward, the airline's management has now turned to cost-cutting measures to keep the national carrier operational.

In a letter to employees in June, the chairman and managing director, has outlined a series of measures, which can save up to Rs 25 crore this fiscal.

However, Air India unions have come out strongly in opposition of the move.

"Airlines world over have resorted to series of measures to cut costs and increase efficiencies. Air India is also going through severe cash crunch, and therefore, it's imperative to initiate measures to cut costs. Such measures are intended at promoting fiscal discipline, without restricting the operational efficiency of the company," said Pradeep Singh Kharola, CMD, Air India, in a letter to the employees.
27/06/18 CNBC TV18
To Read the News in full at Source, Click the Headline

0 comments:

Post a Comment