Privatisation is not a remedy, which can make an airline profitable or efficient and shuttering of Jet Airways and Kingfisher is a case in point, a senior Air India employees union official said Sunday even as he urged the government to reconsider its plans to de-nationalise the flag carrier, which are currently on hold.
Supporting the 20,000 employees of the grounded Jet Airways, the union official said that the present policies of the government need to be relooked as they have only lead to a crisis in the industry and jobs of thousands of people are at stake.
Weighted down by huge debt, majorly from the public sector banks, Kingfisher went belly-up in 2012. Jet Airways, which has a debt of Rs 8,500 crore, mostly from the government-run banks, ceased operations last Wednesday due to paucity of cash.
