In a letter to the staff, chairman Ashwani Lohani not only allayed the concerns of the staff regarding layoffs at the time of divestment, but also told them that in the new work culture merit would get a better deal With privatisation on cards, Air India will benefit from the corporate culture that the new owner will bring along, believes Chairman Ashwani Lohani.
Air India employees would get an exposure to the corporate culture that would be introduced after the privatisation of the airline. In a letter to employees, Chairman Ashwani Lohani, also assured the employees that their valid interests would be “safeguarded”.
“Ownership changes that we expect at Air India would also lead to change in the working environment and the work culture. The complexities of working in a PSU (public sector unit) environment would get replaced by a corporate culture, a culture in which merit would get a better deal,” wrote Lohani in the letter on Tuesday.
The airline is grappling with a huge debt of nearly Rs 50,000 crore after purchase of 111 aircrafts at USD 11 billion, and working capital cost.
“Unless a solution is found to this huge debt, survival in the long run is almost impossible and the proposal to consider disinvestment is a step in this direction. It is the firm conviction of the government that the process of disinvestment is only meant to make Air India a much stronger world-class airline capable of competing with others successfully,” said Lohani.