• Sign Up
  • |
  • Sign In Sign Out
  • |
  • Make us your home
  • |
  • RSS
1 2
1 15
1 4
1 9
1 13
1 14
IPO
1 25
1 5015
1 5018
  • SMS BOS < space > stock query at 56388
  • CRUDE FALLS 2.6% TO $77.43 BBL
  • COPPER DOWN TO $6490/TON ON WEAK DEMAND AND US UNEMPLOYMENT DATA
  • Email us at buyorsell@ndtv.com
  • Call us at 011-26201171
  • Stock moves on WAP: Logon to mobile.ndtv.com on GPRS browser
  • SMS INDEX to 56388 for live market updates
  • Finance buzz: Logon to mobile.ndtv.com on GPRS browsers
  • Stock updates: SMS STO followed by scrip name to 56388
  • For Kingfisher Airlines flight updates sms KING to 56388
  • DOW JONES UP 0.17%; NASDAQ UP 0.34%; S &P 500 UP 0.25%
  • CO TO LAUNCH ITS 3 SCREENS MULTIPLEX IN KANPUR
  • RCOM LOSES 0.1%, SHEDS 23.5 LAKH SHARES IN OPEN INTEREST
  • IDEA LOSES 5.2%, ADDS 30.6 LAKH SHARES IN OPEN INTEREST
  • ASHOK LEYLAND GAINS 4.9%, ADDS 32.4 LAKH SHARES IN OPEN INTEREST
  • NIFTY CLOSES JUST BELOW 4800 AFTER A GAP UP OPENING
  • STRONG AT $1095/OZ AS SAFETY MEASURE POST RISE IN U.S UNEMPLOYMENT DATA
  • U.S UNEMPLOYMENT DATA AT 26 YEAR HIGH;CRUDE FALLS 2.6% TO $77.43 BBL
  • SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
  • STOCK BROKERS TO SEEK SEBI APPROVAL FOR APPOINTING AUTHORISED PERSONS
  • AUTHORISED PERSONS CAN FACILITATE TRADING THROUGH BROKER TERMINALS
  • ISSUES REGULATORY FRAMEWORK FOR AUTHORISED PERSONS
  • COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
  • NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
  • CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
  • GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
  • NO PLANS TO OFFER HOME LOANS AT 8%: NW
  • DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
  • FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
  • EXL TO ACQUIRE BACK-OFFICE OPS OF AXP BUSINESS TRAVEL IN INDIA FOR $30 MN
Updated: 03/07/2009 | 10:54 PM IST
Air India: It's austerity or oblivion
Miloni Bhatt
Friday, July 03, 2009 (Mumbai)
Comments:
Read (0)

The country 's national carrier Air India is facing losses worth Rs 4000 crores - this is a reason it has delayed staff salaries. With no money coming in, nearly 20,000 workers across the country went on a protest. Services were not affected but the agitation has angered the Air India chief who says it's down to a choice between austerity and oblivion.

There were angry protests by Air India employees outside the Mumbai airport. It was a two hour agitation that was joined by 20,000 employees across the country - mainly baggage handlers and loaders.

The reason? The workers want their June salaries and the cash-strapped airline can't afford to pay. The management threatened a crackdown but the protests continued. Services though were not affected.

"We will request the PM for a CBI enquiry on the financial mess. We feel cheated with the management making false promises," said George Abraham, Aviation Industry Employees Guild.

The airline has delayed salaries to 32,000 employees by a fortnight, but had agreed to pay its lower grade staff by Friday, a promise it could not keep.

By now, Air India's patience with its unions is running thin.

In a sharply worded letter Air India CMD Arvind Jadhav said: It appears the gravity of the financial situation has not sunk in.  If fuel and bank liabilities are not paid on time, operations could stop. We need to make a choice between austerity and oblivion."

Thousands of employees feel let down by this management and they will not relent as far as their wages are concerned - clearly this is a deadlock between the union and management which will not end soon.

 

Comments:
Read (0)
Comments
 
Market Watch
         
Graphs
Stocks

                                Moremore
Stock Dashboard
Trading Calls
Ashuu Kakkarr
Ashuu Kakkarr
0.48% status
Current: Rs 848.75
Stock Recos
The stock may touch Rs 120 in 6-8 months
The investors can hold the stock for the medium term with a stoploss of Rs 45
Buy or Sell
Today's Analyst: Shruti Vora
Query : Hitesh Sarkar, an investor from Surat, has 500 Wockhardt at Rs 194/share.