45% salary cut .. Air India engineers jumped into the fight… Here is the sensational background ..!
Engineers of AI Engineering Services Limited (AIESL), a subsidiary of Air India, are reportedly involved in a nationwide strike. According to the ANI report, employees of AI Engineering Services, including Aircraft Maintenance Engineers / Service Engineers, have been on strike over pay cuts. Amidst the already severe debt problems, at one point Air India was pushed to the point where it could not even buy fuel. It was at this point that the government decided to sell its stake in the company.
Credit problem
It is currently busy in the process of this. It is expected that Air India will sell its stake soon. Meanwhile, a series of problems have begun to surface in the Air India Group. Air India, already reeling from a credit crunch, has been hit even worse by Corona.
Many announcements
This is because even though Air India operates more than other private companies, it may not have the usual level of operations. Many countries banned flights during the Corona period. In this situation, many companies announced pay cuts and unpaid leave
Why this struggle?
That’s all right, why only Air India engineers are concentrated in this struggle. Air India’s pay cut is said to be exclusively for engineers. The company is also said to have failed to deposit futures funds and income tax as it has recently reduced its total salary by 20%.
Where the struggle
The total salary cut for engineers has been reduced by 45% from the previous 25%. Meanwhile, a protest was held in Mumbai on July 19. Similar protests were held in Bangalore, Delhi and Kolkata wearing black badges.
This is the demand
The strike is demanding the recovery of full pay, the withdrawal of allowances and the immediate dismissal of the finance minister.
115 properties for sale in 6 years for loan .. Air India’s worst situation ..!
The government has been trying in various ways to repay the debt of the state-owned Air India. But it ended up privatizing without giving anything away.
After years of intense effort, it could not be sold.
It was one of the most tumultuous times for the aviation industry since Corona’s arrival
Sale of assets worth several crores
The statement issued by the Ministry of Civil Aviation in the midst of such a dire situation is shocking. Air India has sold 115 of its assets worth Rs 738 crore since 2015, according to Air Transport Minister VK Singh.
Why sell?
It is learned that Air India has sold these assets to repay the loan. The company had a debt of Rs 60,000 crore as of March 2019.
In addition, data indicate that Air India’s lease income could be as high as Rs 100 crore per annum.
When is the sale?
The government is making a serious effort to sell its entire stake in Air India. However, amidst various problems, it continues to be delayed. However, the government is making a serious effort to achieve its financial target. It has been announced that those who want to participate in the auction can apply by September 15.
