Air India reporting massive daily losses.
NEW DELHI: India?s ailing state run international air carrier ?Air India? was spared the blushes after workers unions called off their indefinite strike following assurances by the airlines management that their dues would be cleared.
Air India chairman cum managing director Rohit Nandan said on Friday that the strike was called off after the airline, which is bleeding nearly $ 1.9 million daily on operational expenses, gave the workers a backwage payout schedule.
?We received their (strike) notice today. We have given them a payment schedule under which we will clear all the overdues by June. The strike has been called off,? Nandan told reporters here after emerging from a meeting with the union representatives.
A consortium of unions representing a large chunk of the 33,000 strong workforce of Air India has threatened a strike from April 2, if the government did not pay them their salaries which are now five months due.
The unions had also submitted a memorandum to prime minister Manmohan Singh urging him to pay up their backwages, failing which they would go ahead with the strike.
Officials said that the compromise was worked out after two days of hectic parleys between the management and the union officials, beginning Thursday.
Even as the workers strike issue is now resolved, the cash strapped Air India can now focus on the other big worries on its plate. The airlines has suffered nearly $ 1.30 billion loss in this financial year, while it is reeling in a debt of over a hundred times that number.
BM
Section: Business, Latest News, South Asia
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