Minister to seek more funds for AI from Pranab

Tags: Aviation, News
Civil aviation minister Vayalar Ravi will meet finance minister Pranab Mukherjee on Tuesday to

RELATED ARTICLES

seek Rs 2000 crore equity infusion into Air India (AI).

The national carrier has already obtained Rs 2,000 crore grant from finance ministry to overcome its cash woes. Aviation ministry had sought similar amount as assistance in the next financial year.

Aviation ministry officials expect that Rs 1,200 crore may be provided in the general budget to be presented by finance minister Pranab Mukherjee on February 28.

“We have asked for more funds,” Ravi said when reporters asked about further funds for AI from finance ministry.

Ravi, who has been at helm of aviation ministry for less than a month, is trying to learn the nitty-gritty of aviation sector and AI business.

He is set to meet the AI employees’ union’s representatives on Wednesday and Thursday to discuss issues pertaining to their wages and strike. “I am going to Mumbai on February 16 to meet employees unions and to know their side of problems. They are the best people to brief me about their issues. We look at workers as a part of Air India, not as separate entity,” he said at regional security conference held by aviation industry on Monday.

The national carrier has been having difficult times with its pilots who threatened to go on strike on late payment of their salaries. As promised, the carrier managed to pay January 2011 salaries on Monday. However, with the mounting losses, a similar situation might emerge next month as well.

“I will try to know their mindset and a way to move forward. I would listen patiently about their problems and suggestions for the ministry on the (Air India’s) management,” the minister said.

There are also conflicts on salaries disparities between erstwhile Indian Airlines and Air India pilots. The carrier that incurred an annual loss of Rs 5,551 crore during 2009-10 is working on a wage-restructuring plan.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

FC NEWSLETTER

Stay informed on our latest news!

EDITORIAL OF THE DAY

  • Foreign brokerages must be Street-smart to win battle of bourses

    Earlier this week, Financial Chronicle reported that foreign brokerages were failing to crack the retail broking market in India, once seen as very pr

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

India needs to project soft power

The rise from a regional to a global p­ower is ...

Robert Clements

Walk the talk when giving others advice

The only thing one does with advice is to pass ...

Bubbles Sabharwal

Keeping our value system uninjured

Every time one reads a newspaper, there is fr­esh news ...