Over 21,000 employees of disinvestment-bound Air India await March salary
The debt-laden national carrier Air India has delayed the payment of salaries for the month of March and is yet to intimate the employees about reasons for the delay, sources said. The disinvestment-bound airline has over 21,000 employees, including more than 11,000 on permanent rolls. Generally, salaries are paid by the 30 or 31 of every month, added sources. Here's more.
We were expecting the salary payment by today: Source
"Since the banks were closed till Monday, we were expecting the salary payment by today, though the practice is of making the salary payments in advance in the eventuality of banks being closed around 30 or 31st of the month," one of the sources said.
Salaries likely to be paid by Thursday: Air India spokesperson
Sources added that in case of bank holidays around the month end, the payment of salaries is made in advance. However, the salaries for the month of March remain unpaid till today and employees have not received any communication from the management as to when the salaries would be disbursed. An Air India spokesperson said the salaries are likely to be paid by Thursday.
Government to sell 76% stake in Air India
On March 28, the Civil Aviation Ministry came out with the preliminary information memorandum for seeking Expression of Interest (EoI) for the strategic disinvestment of Air India. Air India had 11,214 permanent employees as on December 1, 2017, as per the memorandum. The government has proposed selling 76% stake in the airline as well as transfer management control to private players.
Airline would divest 100% stake in Air India Express
According to the Aviation Ministry's memorandum, "Air India would divest 100% stake in Air India Express and 50% shareholding in AISATS, an equal joint venture with Singapore-based SATS."