State-owned Air India has secured additional line of credit of about Rs 325 crore from banks to meet working capital requirements amidst protest by its pilots for delaying monthly salaries and allowances.
An airline official said issues related to payment of salaries had been resolved and it would be paid in the coming days.
?Salaries for the month of January would be paid before February 14,? an Air India official spokesperson said adding that the airline had no information about pilot union’s possible agitation against salary delay.
Air India in a communication to its staff on Monday said that the January salaries would be paid on February 14. This came as a jolt to the employees who have in the past been informed in advance about possible delay in salaries.
Rattled by the frequent bouts of financial woes the airline has urged the government to clear dues of Rs 803 crore on account of use of its jets for VVIP movement.
?The government has withheld our payment for putting our aircraft in service to the President, the Prime Minister and the vice-president. We have also taken up the issue with the civil aviation minister Vayalar Ravi. If we get this due from the government it would be huge financial relief,? an official said.
Air India’s monthly wage bill stands at around Rs 211 crore. The airline has for the past one and half year struggling to stay afloat and its survival is directly linked with the financial assistance provided by the government. Since February last year it has received Rs 2,000 crore from the government as equity. The airline has further pitched for Rs 2,000 crore of equity infusion by its owner.