Air India disinvestment: CMD holds meeting with employee unions
Air India CMD Pradeep Singh Kharola today held a meeting with representatives of four employees' unions to discuss about the proposed strategic disinvestment and their concerns, sources said.
Air India CMD Pradeep Singh Kharola today held a meeting with representatives of four employees' unions to discuss about the proposed strategic disinvestment and their concerns, sources said. The Civil Aviation Ministry has sought Expression of Interest (EoI) from potential bidders for a 76 per cent stake sale in loss-making Air India as well as divestment of two of the carrier's subsidiaries.
Sources said the CMD met representatives from four unions for about 45 minutes to mainly understand apprehensions of employees about the proposed stake sale. The meeting was convened following directions from the ministry, they added.
Representatives from Indian Aircraft Technicians' Association (IATA), Air India Aircraft Engineering Association (AIAEA), Air Corporation Employees' Union (ACEU) and Air India Employees' Union (AIEU) attended the meeting.
These unions, which together have thousands of members, mostly represent engineering and commercial staff, among others.
Sources said all the four unions are opposed to Air India disinvestment. The representatives were assured by the CMD that their concerns and apprehensions would be conveyed to the ministry, sources added.
In a letter addressed to the Chairman and Managing Director, the IATA said it strongly opposes the disinvestment of the airline and its subsidiaries.
The union also raised concerns about salary arrears and other issues.
On March 28, the ministry came out with the preliminary information memorandum released on Air India's strategic disinvestment.
As per the memorandum, the government plans to offload 76 per cent equity share capital of the national carrier as well as transfer the management control. The proposed transaction would involve Air India, its low-cost arm Air India Express and Air India SATS Airport Services Pvt Ltd, which is an equal joint venture between the national airline and Singapore-based SATS Ltd.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.