NEW DELHI: After Jet Airways and Kingfisher Airlines, it is now the turn of Pawan Hans Limited, which is facing a financial crisis.
Pawan Hans’ management, on April 25, issued a circular to its employees stating that the company is not in a position to disburse employees’ salaries for the month of April due to “uncomfortable financial position in Pawan Hans.”
“While reviewing the overall performance of the company, it has been observed that the company is facing an uncomfortable financial position. The industry’s future is uncertain as many of our established businesses and our associated challenges are threatening future deployments. In terms of financial performance, the revenue has sharply declined in the financial year 2018-19 and the company has incurred a net loss to the tune going to ₹89 crore during this financial year,” the circular said.
