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Air India pays salaries to employees after one week delay

Air India pays salaries to employees after one week delay

Air India pays salaries to employees after one week delay
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By Anu Sharma  Jan 9, 2019 6:18:49 AM IST (Updated)

National carrier Air India has paid salaries to its employees after a delay of one week.

National carrier Air India has paid salaries to its employees after a delay of one week, a senior company official told CNBC-TV18 on Tuesday.

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The debt-laden airline has not been making timely payment of salaries in the recent past due to shortage of funds. This is despite a significant increase in fund infusion in the current fiscal as against last year ended March 31.
Till January 3, the government had infused funds amounting to Rs 3,630 crore into Air India during the current financial year as against a sum of Rs 1,800 crore in 2017-18 (April-March).
The funds for the current fiscal year include a sum of Rs 2,000 crore received from National Small Saving Fund.
The civil aviation ministry has recently formed a revival plan for the carrier to make it profitable and divestment ready. The ambitious plan includes the transfer of debt amounting to over Rs 29,000 crore and assets to a special purpose vehicle, sale of non-core assets and several organisational reforms.
The airline currently reels under a debt of over Rs 55,000 crore.
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