New Delhi: The privatization of National Carrier Air India is confirmed, said junior civil aviation minister, Hardeep Singh Puri , in parliament on Thursday. Running the company has become a challenging task. Everyday the company faces a huge loss of Rs. 15 crores and effects of the lack of 20 airplanes is also seen. Hence to improve the conditions, the Government should invest in the company, he said.
This is the first time that the Government has declared a decision regarding the privatization of Air India, but this is not the first time that the Government is investing in Air India. The previous investments were unsuccessful. Air India has a loan of Rs. 9000 crores in the current financial year, for which it had asked help from the Government. The Government is going to sell its 76% share from Airlines.
The Air India company’s employees will have to face the problems regarding salaries in the upcoming period. Air India doesn’t have enough money to pay salaries to its employees after the month of October.
Restriction to Air India to enter into the areas of Pakistan has caused a tremendous loss to the company. The situations are stressed between India and Pakistan due to the Pulwama attack that occurred on 14 February in Jammu and Kashmir. It has caused a loss of Rs. 300 crores to the company.
Bureau News, Kokan Now, New Delhi.