Air India Huge Loss: Air India, the government of India’s aviation company, was incurring a loss of Rs 20 crore every day. The government was facing a loss of Rs 7,300 crore in the year. Now, this Rs 7,300 crore will be spent on development work. On Wednesday, Civil Aviation Minister Jyotiraditya Scindia said these things in the Lok Sabha.
Jyotiraditya Scindia was replying in Lok Sabha.
Civil Aviation Minister Jyotiraditya Scindia said that after the disinvestment of Air India, now that money can be used for social development works. Scindia was replying to the ‘Discussion on Demands for Grants for the year 2022-23 under the control of the Ministry of Civil Aviation in the Lok Sabha.
Air India started with the private sector.
He said that Air India started with the private sector. Then it was nationalized, and it was run successfully for many years. He said that at present, the situation of Air India has to be understood that why this situation has arisen. Mr Scindia said that in the year 2005-06, Air India was a profitable company of only Rs 14 crore. At that time, Air India signed an agreement to buy 111 aircraft.
Two profit-making companies in loss
Taking a veiled attack on the opposition, Jyotiraditya Scindia said that now the question arises: What was the reason for this? He said that 111 aircraft are bought with a loan of Rs 55,000 crore. Later 15 aircraft are sold in the year 2013-14. Two completely different cultures Air India and Indian Airlines, are merged. Since then, both the profit-making companies started living in loss.
7500 crore was being lost by 2021
Jyotiraditya Scindia said that from 2007-08 to 2020-21, Air India was incurring a loss of Rs 3,000 to 7,500 crore every year, which was a total of Rs 85,000 crore. He said that in this way, Air India got into massive debt with a loss of Rs 85,000 crore in 14 years.
PM Modi resolved to close the deficit.
Jyotiraditya Scindia said that Prime Minister Modi resolved that this deficit must be closed. Disinvestment will have to be done so that the country’s money and its people are saved. The country’s citizens can be benefited through schemes like Ujjwala Jal Jeevan Mission. He said that Air India was incurring a loss of about Rs 20 crore in a day.
No employee will be fired for one year.
Jyotiraditya Scindia also answered the question asked about the future of Air India employees. That is mentioned in detail in our shareholder agreement. The first condition is that no employee will be fired for one year. Scindia said that even if an employee has to be removed after one year, it can be removed only under the Voluntary Retirement Scheme (VRS). It is to be known that the Tata Group has acquired ownership of the public sector company Air India.
