Air India Offers 3-day Working Week To Permanent Staff At 60% Pay

on Friday introduced a "shorter working week scheme" under which its permanent employees, except pilots and cabin crew members, can opt to work for three days a week at 60 per cent salary, said senior airline officials.

This measure has been introduced in order to improve the airline's cash flow position amid the pandemic, they added.

"The permanent employee who opts for such a scheme can avail this for a period of one year," the officials said.

The pandemic has impacted the aviation industry significantly, and all airlines in India have taken steps like cutting salaries of employees, firing employees to improve their cash flow.

The officials said that the employees opting for the "shorter working week scheme" would not have the option to take any other employment during the remaining days of the week.

After a gap of two months due to the coronavirus-triggered lockdown, India resumed its domestic passenger flights from May 25 albeit in a curtailed manner. International passenger flights continue to remain suspended in the country.

After failing to disinvest from two years ago, the central government restarted the process in January this year. However, due to the pandemic, the process has slowed down.

is a loss-making enterprise and it has a debt of more than Rs 60,000 crore.

RECENT NEWS

Titi Coles Legacy In Finance: Pioneering Diversity And Leadership

Titi Cole, one of the most senior Black women in the world of finance, recently exited her high-profile role at Citi. He... Read more

Rising Rates, Rising Challenges: Bankers Adapt To Serve Troubled Companies In A Changing Economic Landscape

As interest rates climb, troubled companies are facing heightened financial pressures, prompting them to seek assistance... Read more

The Elusive Nature Of Fraud Detection: Exploring The Auditor's Dilemma

In the intricate world of financial reporting, auditors serve as guardians of integrity, tasked with uncovering discrepa... Read more

The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty

In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more

Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction

In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more

Central Banks And The Economic Horizon: Steering Through Uncertaintie

In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more