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“The transaction advisor has submitted a report based on consolidated feedback from people who were interested in AI. Accordingly, the AI-specific group of ministers and secretaries will see what is the best way to take the process forward,” Union minister of state for aviation Jayant Sinha said.
Ever since the divestment process was kicked off last year, some banks withdrew a Rs 1,000-crore to the airline and the equity infusion from the government was also halted. As a result, for the past three to four months AI has not been able to pay salaries on time. Asked if this kind of uncertainty will remain now, Sinha said: “The government will ensure that AI has sufficient liquidity to meet its commitments. We are putting in place financial arrangements to enable us to do that…. All hard working employees will get paid on time.”
Senior pilots said they had got only their basic salary of May, and not the flying allowance which constitutes almost 80 per cent of their total pay, till Wednesday.