Morale affected, but want to see the company doing well: Air India CMD on disinvestment

Air India Chairman and Managing Director Ashwani Lohani on Wednesday said that the news of the disinvestment of the airline has affected the morale of the staff, but they are determined to give their best to see their company perform well anyhow.

"The news of disinvestment definitely affects the morale of every person, because the future becomes uncertain. I don't think that it's much of a concern, because the staff is in love with the company and they'd like to see their company do well always," Lohani told ANI.

On June 28, the Union Cabinet gave 'in-principle' nod for disinvestment of stakes in the airline after the NITI Aayog suggested on the same.

The state-owned airline has total liabilities of about Rs. 60,000 crore, out of which Rs. 52,000 crore is bank debt and it owes Rs. 8,000 crore to oil PSUs and Airports Authority of India.

The airline was given a bailout package in 2012 by the UPA Government of which it has so far received Rs. 24,000 crore.

The Air India was nationalised in 1953.

-ANI