The transfer will imply that the brand new proprietor of the airline —which is a prime precedence firm for disinvestment this yr — may have new phrases for workers and may tweak the compensation packages in a means that it advantages sections the place it desires to make them extra engaging, sources accustomed to the privatisation programme instructed TOI.
Air India workers are entitled to a number of advantages that transcend the standard well being and provident fund scheme to additionally embody free tickets for a number of segments. Though the variety of free tickets that may be issued in a yr is fastened, it was given past the speedy household which generally contains the worker, partner and dependent kids. Final yr, the Air India Employees Union had petitioned the civil aviation ministry that the medical scheme for service and retired workers, provident fund and depart encashment needs to be continued of their present kind even after privatisation, arguing that it’s vital for his or her well-being. On condition that just a few advantages transcend regular trade apply, a few of the bidders have considerations over providing liberal packages to the whole workforce, prompting the federal government to deliberate internally. A authorities officer mentioned that it is just truthful that the Centre honour its share of the dedication, which may solely be restricted as much as the time it’s the proprietor.
Employees and workers, nonetheless, consider that they joined the corporate holding the advantages in thoughts and labored on the belief that the contract phrases will stay unchanged. In actual fact, worker profit is without doubt one of the components which has delayed the whole course of past the goal date for privatisation with a few of the different facets nonetheless being determined. Covid-19 has additionally delayed the method. A senior officer, nonetheless, mentioned that the corporate, which can see a recent Rs 1,900 crore from the federal government as soon as the supplementary demand for grants is accredited, is on the right track to be privatised through the present monetary yr because the Centre too is eager to verify the bleeding. The Centre goals to name for monetary bids in September and all efforts are being made to make sure that the sale is wrapped up within the present fiscal yr. “It could be taking slightly longer however a few of the points which can be determined right here may also be utilized in case of different firms that shall be privatised within the coming months,” mentioned the senior officer.