Friday, November 29, 2019

Air India focused on survival as shutdown fears bite

Mumbai: Air India owes more than $8.6 billion and has struggled to pay salaries and buy fuel, with losses mounting following earlier privatisation attempts.
The company is unable to pay its debts and its outlook is "gloomy", spokesman Dhananjay Kumar said.
"We are concentrating on day-to-day operations and not focusing on the future," he told AFP.
"Whatever resources we have, we are trying to use them in an optimum manner and trying to run our flights."
Aviation minister Hardeep Singh Puri said Wednesday that the airline would "have to close down if
it is not privatised", adding the government would soon invite takeover bids.
The company's debt mountain may be hived o in a bid to make it more attractive to potential buyers, according to media reports.
Kumar said Air India was not yet in discussion with the ministry over any shutdown plans. But in more bad news for the beleaguered airline, a planned sale of the Air India headquarters in Mumbai may be blocked aer Prime Minister Narendra Modi's party was ousted from power in Maharashtra state, local media reported.
28/11/19 AFP/Deccan Herald

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