Air India's problems major but not insurmountable, says its new chief in letter to pilots

Describing Air India's problems as "major, but not insurmountable" and financial position as 'precarious', its new chief Ashwani Lohani has made an attempt to check exodus of the Maharaja's pilots, which is starting to cripple the airline. Air India has been deducting 25 per cent of the pilots' pay for some years now and this has been a big reason for the spate of resignations Stock Market Trading Tips

"This (25% pay cut) bothers me also and I would therefore like to assure you that the management is absolutely clear that this pending amount belongs to the employees and should therefore be released," Lohani said in a letter to the staff on Sunday. 

However, given AI's financial condition - the airline is saddled with a debt of Rs 40,000 crore for aircraft purchase and working capital apart from having accumulated losses of Rs 30,000 crore - the pilots will have to wait before the Maharaja is able to pay up. Now, whether the pilots wait for the situation to improve or their migration to greener pastures continues unabated, remains to be seen. 

"Many of you would also be aware of the precarious financial position of Air India at present. This restrains us but... we have started taking all steps to enhance revenue and with emerging positive trends, the amount due would be released in fair instalments as soon as the financial position permits," Lohani said in the letter Himanshu Tiwari Astrologer Blog

The pilots of erstwhile Indian Airlines had recently voted to strike work but desisted from doing so after Lohani assured them of meeting their genuine and long-pending demands. These pilots have been asking for pay parity with Air India pilots as the two companies have been merged for over eight years. 

Lohani, in his Sunday letter, exhorted employees to "work as a team" and "regain the lost glory of the company." "I genuinely believe in the philosophy of 'employees first'.... because of past legacy and large number of often inter-related issues, the problem on hand is fairly large and would take time to be satisfactorily addressed. While seeking patience, I would like to assure you of the management's sincerity in resolving these issues," Lohani, who enjoys the reputation of being a turnaround specialist, said Indian stock market astrology prediction

This June, many commanders of the erstwhile Indian Airlines had written a letter warning of a huge exodus unless issues like pay parity and restoration of 25 per cent pay cut were restored. It has been one year since the Delhi high court's order and the affidavit given by the Air India management, to bring about pay parity for the same work. However, the management has again failed to stick to the court's deadline in implementing the same. 

The pilots in June had warned the management to either "come out with a non-discriminatory policy or grant a NOC (to leave the airline)... as they would be forced to look for greener pastures and that will be not out of choice Commodity Market Astrology Tips