Air India doesn’t have funds to pay employee salaries beyond October

NEW DELHI: Air India won’t have enough money to pay salaries to its employees beyond October amid upcoming debt repayments and plans by the government to sell its 100% stake in the airline, senior officials told ET.

“The government had provided Air India sovereign guarantees amounting to Rs 7,000 crore and the airline has about Rs 2,500 crore left, which the airline will utilise soon,” said one official who did not want to be identified.