The Government has approved a turn-around plan for the ailing Air India with infusion of Rs. 30,231 crore within 10 years with stringent conditions on operations and efficiency. The Cabinet Committee on Economic Affairs (CCEA) has approved the plan yesterday. The restructuring of the Rs. 18,000 crore loan by banks is also planned. At the same time, it will also form two subsidiaries  and will shift 19,000 out of the total 27,000 employees to the subsidiaries. More FDI may also be brought in the meantime.

In the name of assisting the Air-India, the government is reducing the staff as also trying to bring more FDI. The present critical situation has been created only by the wrong and anti-PSU policy of the government. And now citing loss, the game of further privatisation and reducing employment are planned. While we welcome the allocation of Rs.30,000 crore, we have to be careful to ensure that the privatisation policy and job curtailment is defeated.