HEADLINES:
R/€ Airline defers salaries
June 16, 2009 Edition 1
MUMBAI: Air India, the country's national carrier, will defer salary payments for its 31 000 employees for two weeks because of a cash shortage born of tepid demand and overcapacity, the company says.
"We are in a low-fare regime. The fuel tax is going up. The number of passengers is not that high. There is excess capacity in the market," Air India spokesman Jitender Bhargava said. "The situation is not peculiar to Air India. It is across the board in India and globally." - Sapa-AP
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