INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff

INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff - Hallo friendsLET'S HEALTHY LIFE, In the article you read this time with the title INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article cough, Article diabetes, Article diseases, Article in general, Article Phytotherapy, Article skin diseases, We write this you can understand. Alright, good read.

Title : INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff
link : INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff

Read too


INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff

State-owned Air India is drawing up a compensation plan to offer in a voluntary retirement of a third of its 40,000 employees, ahead of its privatization next year.

The carrier likewise scrapped its April decision to lease eight Boeing 787 wide-body aircraft after putting fleet expansion on hold, an unnamed company official said.

Prime minister Narendra Modi’s cabinet last month approved plans to privatize the loss-making flag carrier — either in parts or lock, stock and barrel — ending decades of state support.

The central government in 2012 injected $5.8 billion in bailout support to keep the airline flying amidst its $8.5 billion debt (SR31.88 billion) and bloated cost structure.

Founded in the 1930s, Air India has been unprofitable since its 2007 merger with then-domestic carrier Indian Airlines.

It made an operating profit of about one billion rupees in its financial year to March 16, thanks to oil prices, but still posted a net loss of 38.4 billion rupees.

Once the country’s major aviation player, Air India has lost market share to better-run private airlines such as IndiGo, whose share of the market in January stood at 39.8 percent; and Jet Airways with a share of 15.5 percent.

Nothing has been finalized but our aim is to make the strategic sale as simple as we can, said a second airline official said, and added that any fresh investments would be put on hold.



Tourism Observer
http://ift.tt/2sVp1lC


Thus Article INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff

That's an article INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff This time, hopefully can give benefits to all of you. well, see you in posting other articles.

You are now reading the article INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff with the link address https://letslifes.blogspot.com/2017/07/india-air-india-plans-voluntary.html

Subscribe to receive free email updates:

Related Posts :

0 Response to "INDIA: Air India Plans Voluntary Retirement For 1/3 Of 40,000 Staff"

Post a Comment