(MENAFN- NewsBytes)
Yes, it will be corporate culture for Air India staff
20 Jul 2017
With the complete overhauling of Air India in the offing, Air India chairman Ashwani Lohani has asked the staff to be ready for a complete change in work culture.
Lohani said that the move would get a better deal and also stated the government's decision to sell off AI, mentioning that privatization would make it a better airline.
Air India's working environment will see a change, says Lohani
Statement
In a letter to the AI employees, Ashwani Lohani stated that huge debt has accumulated due to continuous losses over the years and disinvestment remains the only option to make Air India a much stronger world class airline.
He further added that the PSU environment would get replaced by a corporate culture, which the AI employees will have to imbibe over time.
Air India to offer VRS to 15,000 employees post privatization
Other plans for AI
According to sources, Air India is drawing up a proposal to offer voluntary retirement to over one-third of its 40,000 employees.
Many of the contractors, including office staff and ground handlers would be given buyout offers to prevent protests.
Reportedly, Air India has also put its fleet expansion on hold, scrapping a proposal to lease eight Boeing 787 wide-body aircraft.
Air India's operating profit rises
Conclusion
With the disinvestment going on in the state airline, Air India's net loss after tax has been narrowed to Rs. 3,643 crore while its operating profit rose to Rs. 300 crore in the last financial year.
As reported by the government, the airline saw its total revenue, including exceptional and extraordinary items, increase to Rs. 22,146 crore in 2016-17 period.
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