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Air India CMD Writes Open Letter To Staff Amid Disinvestment Buzz: 'Will Protect Your Interests'

The Modi Govt Would Be Conducting Roadshows At Global Financial Centres Like London And Singapore This Month To Entice Investors For Air India Disinvestment.

News Nation Bureau | Edited By : Surabhi Pandey | Updated on: 08 Nov 2019, 11:50:25 AM
Air India unions have opposed the disinvestment saying there is no clarity regarding salary arrears and pensions.

New Delhi:

Amid strong disinvestment buzz, Air India Chairman and Managing Director Ashwini Lohani wrote an open letter to the airline’s staff on Friday. The letter seems to be an attempt by the top management to allay any fear of the Air India staff over the impending stake sale of the national carrier. Lohani wrote that the disinvestment was the need of the hour. “It (disinvestment) may enable sustainability as well as help in attaining the full inherent potential of the national carrier, thereby also helping the nation in attaining its economic goals,” he wrote.

Lohani wrote candidly about the cash crunch and other issues plaguing the airline. “As you all are aware Air India has been going through an extremely stretched financial situation, primarily due to huge debt servicing liabilities that has been affecting the airline. The position gets compounded due to legacy issues and the constraining environment that being a PSU, we are forced to live with. Being an airline we function in a highly competitive environment, an environment in which our competitors are not constrained by the procedures, restrictions and oversight that we at Air India face placing us at a handicap both financially as well as operationally,” Lohani wrote in the open letter.

To allay the fear of the staff, Lohani further said that, "Kindly be rest assured that the management fully shares your concerns and is taking necessary steps to protect the genuine interests of all Air Indians."

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First Published : 08 Nov 2019, 11:29:54 AM