State-owned airline had frozen hiring of regular employees in 2012 and has since hired pilots and cabin crew on contract
GN Bureau | November 15, 2016
There are early signs of a turnaround at Air India. It has increased its revenue per regular employee by over 12% to Rs 1.09 crore in the year. This was achieved by reducing the number of regular employees to 19,401, down 8% compared with FY15, reported Financial Express.
Air India had received a bailout package of Rs 30,000 crore by the government in 2012 and it had frozen hiring of regular employees in 2012 and has since hired pilots and cabin crew on contract. This improved the airline-to-employee ratio to 1:120 (excluding subsidiaries) compared with 1:139 in the earlier fiscal.
READ: The afterlife of the Maharaja
During FY16, the carrier cut its losses by nearly 35%.
There are areas where it is still behind its private sector peers. For instance, the aircraft utilisation rate of Air India continues to be at 9.5 hours in a day against a standard 12.5-13 hours for most private airlines.
“It would be very difficult for us to substantially improve on most counts any further but a better aircraft utilisation is even harder as it’s a legacy problem that is peculiar to government-owned companies,” the daily quoted a senior airline official as saying.
“As more senior officials retire, we would have to start hiring regular employees in a staggered manner soon. This could adversely impact expenses unless we improve in other areas,” the official added.
With the commissioning of the third unit of the Prayagraj Super Thermal Power Project (PSTPP), Bharat Heavy Electricals Limited (BHEL) has successfully executed the 1,980 MW coal-based supercritical thermal power project in Uttar Pradesh. The first two units of the project
The ministry of electronics and information technology (MEITY) will set up a new body, Digital India Corporation (DIC), to execute prime minister’s ambitious Digital India programme. The corporation will subsume some of the existing agencies within the ministry including the National e-Gove
While India and China are pitted against each other in South Asia and the Southeast Asian region, and the former’s refusal to participate in Beijing held summit on One Belt One Road (OBOR) initiative was a low point in their bilateral ties, New Delhi is now preparing an initiative that will r
The existing Pragati Maidan complex is set to get a new face with its redevelopment into a world class state-of-the-art integrated exhibition-cum-convention centre (IECC). CMD, India Trade Promotion Organisation (ITPO), L C Goyal and CMD, NBCC (India) Limited, Anoop Kumar M
GAIL (India) Limited has registered 57 percent rise in profit after tax (PAT) for the 2016-17 fiscal with the PAT increasing to Rs 3,503 crore from Rs 2,226 crore in the last fiscal. The rise in profit was boosted mainly by a turnaround in the company’s petrochemical
A senior bureaucrat, apparently much respected among the administrative circles, faces two years in jail. His crime: a decision that may have come from the political leadership. HC Gupta, a former coal secretary, is among the three bureaucrats convicted b