Mumbai, June 7: Air India is in the middle of an acute cash crunch as it has delayed the salaries of their employees for the third consecutive month. According to PTI, the management has not communicated to the staff, as to when the salaries for May will be paid.

Air India employees usually get paid by the 30th or the 31st of every month, and according to PTI reports, salaries are expected to be disbursed by next week. Air India has over 11,000 employees in a permanent role.

Recently, Air India failed to get even a single bidder for its disinvestment plan. In nearly two decades, this is the second time that Air India stake sale failed to take off. Considering its huge losses, Air India has asked the government to restore equity infusion after it was unable to find any buyers in its privatisation bid. Reportedly, the loss-making carrier received more than Rs 26,000 crore under the bailout package announced by the former UPA government.

(With inputs from PTI)

(The above story first appeared on LatestLY on Jun 07, 2018 10:13 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).