Cost consciousness is one of the core areas that can improve the financial of Air India and employees must ensure that not even a single 'paisa' is wasted for a better future, airline chief Rajiv Bansal has said.
Bansal, who took over the charge of the top position in the disinvestment-bound airline in late August, in a message to the employees, has also urged them to be economical and adopt thrifty work practises without compromising with safety and quality.
"Cost consciousness is another core area to improve the financial health of the company. While we strive to make improvements in our services, be it in-flight catering or entertainment, aircraft cabin ambiance, lounges and offices, we must ensure that not even a single 'paisa' is wasted," Bansal said.
"We ought to shun all avoidable and wasteful expenditure and adopt thrifty work practises without compromising with safety and quality," the Air India Chairman and Managing Director said in the message.
As per the provisional numbers announced by the Government in July, the airline's net loss after tax narrowed to Rs 3,643 crore and operating profit rose to Rs 300 crore in the last financial year.
The airline had posted a net loss of Rs 3,836.77 crore and an operating profit of Rs 105 crore in 2015-16 fiscal.
However, the expenditure went up to Rs 25,789 crore in the last financial year, as per the provisional numbers.
In 2015-16, the same was lower at Rs 24,361.33 crore.
The Air India chief also said since his assuming the charge of the airline he has been "focusing upon a few core areas which play a vital role in determining the success of a service company like ours."
Ensuring that AI flights leave on-time and its customers are satisfied is extremely important to generate brand loyalty, he said.
Surviving on a ten-year bailout package amounting to Rs 30,231 crore which began from 2012, the airline is currently in the disinvestment process.
The Cabinet Committee on Economic Affairs (CCEA) gave its in-principle nod for the strategic disinvestment of the airline which has a debt burden of more than Rs 50,000 crore
in June this year.
Bansal, in his message, also said "whether it is our personal or professional front, we need to tighten our belt and face the challenging financial situation with grit and determination."
The strength of an organisation lies in its disciplined and committed workforce, he said adding, "it is, therefore, essential that we dedicate ourselves to these core values of punctuality, fitness, cleanliness and cost consciousness for a brighter future ahead.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)