Good news! Air India’s ground-handling staff likely to get December salaries by next week

By: |
Published: January 14, 2020 8:57 AM

His remarks came weeks after he told the Civil Aviation Ministry that the carrier's financial situation was "grossly untenable" for sustaining operations.

While Air India’s net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore.

Employees of the ground handling arm of debt-ridden Air India, AIATSL, are likely to get their salaries by next week, an official notification said. A staff notice issued by Air India Air Transport Services Limited (AIATSL) on Monday said, “We regret to inform the delay in payment of salaries for the month of December 2019 due to circumstances beyond the control of management.”

“However, all efforts are being made to make the payment at the earliest or by next week,” it added. Air India Chairman and Managing Director Ashwani Lohani had on January 4 said that “rumours” of the disinvestment-bound airline’s shutdown are “all baseless”.

His remarks came weeks after he told the Civil Aviation Ministry that the carrier’s financial situation was “grossly untenable” for sustaining operations. While Air India’s net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1It may take 6-8 quarters for hotel industry to reach pre-Covid occupancy rates: CARE
2Home, car loans set to become more affordable as SBI, HDFC Bank cut rates
3Music on command: Spotify now on Amazon Alexa