India Markets close in 1 hr 47 mins

Poll: What should govt do with Air India?

Yahoo India Finance Team
Yahoo! India Finance

Air India, which did not attract any buyers when the government put it up for disinvestment recently, has delayed payment of salaries to its over 11,000 employees for the 3rd month in a row. It had last paid April and May salaries by raising a working capital loan from Bank of Baroda.

Air India airline doesn’t have working capital or enough finances to even pay to its employees. It is again seeking government help to bail it out.

The UPA too had promised it Rs 30,231 crore to turn it around: of that, the Air India has already received Rs 26,000 crore under the bailout package.