 "Air India invites bids from only central govt entities for Mumbai building")
State-owned Air India has accumulated losses of over Rs 50,000 crore and debts of over Rs 48,000 crore. Its financial position is so precarious that no private buyer stepped up to buy a 76 per cent stake in the airline when it was put on the block last year. Cost-cutting and more cost-cutting, you would think, should be the internal mantra for the airline in this ultra-competitive market.
Its owners and management appear to have other concerns — that the staff of this ailing airline must display patriotic fervour in a prescribed manner.
A March 5 advisory from the Director
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