New Delhi, Aug 3 Even with the private airlines calling off their planned protest of August 18, the Union Government has stood firm and ruled out any financial bailout for them.

Speaking to the reporters here on Monday Union Minister of State for Civil Aviation Praful Patel said, "There is no question of a financial bailout for private airlines."

He also made it clear that the government would not bail out Air India.

Patel, however, said that his ministry would try to help the airlines in every possible way as aviation is an important sector of the economy. Patel said the government understands the difficulties being faced by the aviation industry.

On Sunday, private airlines, called off their proposed August 18 strike, giving relief to air travelers. The Federation of Indian Airlines (FIA) called off the strike under the government pressure.

The FIA sources said the decision was taken in view of the potential inconvenience to thousands of passengers and the government's willingness to enter into a dialogue.

The FIA expressed the hope that talks with the government would solve the problems faced by the aviation industry. Private air operators have been demanding a financial bailout of Rs10, 000 crores in view of mounting losses. (ANI)