KhbarExpresswww.khabarexpress.com

EDA - School Accounting Software

Welcome Guest Sign In New user! Sign Up Now

UniqueIdea.net Softwares SMS Jokes Poems Story Time Pass Facts

Search Photo  
RSS Tuesday, February 14, 2012


Government of India ready to support "leaner and trimmer" Air India
25 Jun 2009, 1333 Hrs

Add comment          Mail          Print          Write to Editor


New Delhi, June 25 Union Civil Aviation Minister Praful Patel has said that the government is ready to help Air India on condition that the struggling state carrier must become "leaner and trimmer" to secure backing it needs to get through a liquidity crunch.

The carrier, which has said it wants to cut employee costs by five billion rupees annually and has asked senior employees to forego salaries and incentives in July, has sought extra cash through equity and soft loans from the government.

"The government's support is there but the government's support also comes with a condition that Air India must shape up, must become leaner and trimmer and also must put its best foot forward," Patel told reporters here on Wednesday.

Patel did not say how much cash would be made available, but said the airline would not be given "an open-ended chequebook".

"Air India will have to implement measures such as manpower restructuring, including of top management, and cost-cutting. Air India must submit its restructuring plan within a month," he added.

Earlier this month, Patel had said an initial public offering of shares in Air India could be considered in the near future. (ANI)




Discuss this story on KhabarExpress Forum  


Pelagian Dictionary

India
ready
support
"leaner
trimmer"
Air
India


Comments to this News

Be the first to comment on this News


 
Post Your Comments to this News
 Posting Rules
 
  Name: Email:
 

Top Story of The Day
Latest Articles

Jain Calendar Launched at Terapanth Bhawan, Gangasahar



Hanuman Bandhan


Education Special

All right reserved by Khabarexpress.com
Contact Us | Archives | Sitemap | Can't see Hindi ? | News Ticker
Special Edition: Lakshchandi Mahayagya, Camel Festival 2007, Vartmaan Sahitya, Nagar Ek - Nazaare Anek, Bikaner Udyog Craft Mela
Our Network rajb2b.com | khabarexpress.com | uniqueidea.net | PelagianDictionary.com | hindinotes.com
Developed & Designed by Pelagian Softwares