With the Central government taking swift action on disinvestment of Air India (AI), it is also considering various options such as VRS (Voluntary Retirement Scheme) and employment in other PSUs to absorb the employees, PTI reported. “Various options are under consideration to protect the interests of the employees,” civil aviation secretary R N Choubey told PTI. Last week, Civil Aviation Minister Jayant Sinha told CNBC TV18, “We will make every effort to protect Air India staff. We don’t want to saddle Air India or its subsidiaries with unsustainable debt.”
Earlier last week, Centre has approved foreign direct investment (FDI) of up to 49 percent in the debt-ridden carrier. As of September 2017, the national carrier has debt outstanding of more than Rs 52,000 crore.