Amid losses Air India delays payment of salaries

Posted By: Staff
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New Delhi, Jun 15: Citing 'resource crunch' the national carrier, Air India has announced that it will pay 30,000 employees their June salaries 15 days late. And according to a circular issued by Air India management, the payment of productivity-linked incentive (PLI) too has been delayed by 15 days.

"The salaries of June will be paid on July 15 due to the resource crunch that the company is facing," an unnamed Air India spokesperson was quoted in a news agency report.

However the company has assured that there will not be any lay-offs and that it is only forced to delay the payment of the salaries.

Air India posted losses for the last financial year at around Rs 4,000 crore as opposed to 2,226 crore in the previous fiscal.

There are speculations that the national carrier may seek Rs 5,000 crore as additional equity, Rs 7,000 crore as a soft loan, and a grant of Rs 2,000 crore. However Air India officials have denied this.

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