Air India is on a trajectory to be divested fully by the Indian government, as soon as in the first half of next year. The national carrier which is also one of the most prominent one in the industry is under many losses which is the reason why the government is interested in selling its entire stake in the company hoping that private buyer will be able to run it better. However, the various employees of Air India and especially the unions are not in favour of the privatisation move of Air India. These unions have written a letter to Prime Minister Narendra Modi saying that Air India should be run with professional management so that it can be made profitable instead of going down the privatisation path. To recall, a few weeks back, Civil Aviation Minister Hardeep Singh Puri had said that Air India would have to be shut down if the privatisation does not go as planned.
Union Writes Letter to PM
The union also said in this letter, that 21 airlines have been shut down in India since the year 1992 and they expressed their concern that Air India should not meet this fate. The union remarked, “We urge the Government of India to consider waiving off the credits and have the airline run by professional management. We have immense faith, that taking these actions will indeed find Air India in the league of the profit-making carriers, once again.”
Loans Become Troublesome for Air India
The unions also added the fact that Air India has been turning in operator profits in the last three years but the servicing loans on the company which have an outgo of Rs 4,000 crore every year are the ones mounting losses on the company. The government, on the other hand, has planned to privatise the airline before the end of the current fiscal year.