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"The Government needs to put in around Rs 2,500 crore of equity, which can be repaid in future once partial disinvestment takes place. You can look at another couple of thousand crore by way of soft loans, which is again repayable," Patel told a TV channel.
On the proposition of eminent personalities such as Ratan Tata, N R Narayan Murthy and Sam Pitroda joining the Air India board of directors, he said, "Why not? Ultimately if such people are willing to contribute for a public cause, for bringing the national carrier back on track, I think it is a great thing."
Explaining their role, Patel said "they would be independent directors".
He said that the Government was still talking to some eminent personalities and would come out with the names of those who would be part of the AI board once it is finalised.
"Some of them have said yes but until I formalise the whole thing, I would not like to disclose their names," the minister said.
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If the people who use Airindia wants it, it is time they make up this national loss. Otherwise we will be putting our income in a bottomless hole.
Instead of wasting 4500 crores on AI give a few lakhs to each of the employees and send them home and sell off the rest to a good company. The corrupt inefficient AI staff can sleep in their houses
Air India wants 4500 Crores. This is just the tip of the iceberg. Air India is a sinking ship and will take India down with it. Satyam executives went to jail for padding the Balance Sheet, not for any real frauds. In the case of Air India, all the numbers are fudged. After 60 years these frauds are beginning to surface , but because Air India is run by the Politicians/Bureaucracy, they will remain hidden untill the poor taxpaying public has been bled to death. Instead of asking Ratan Tata to "advise" how Air India should be run, Manmohan JI, Please sell this albatross back to him. Air India's rot is beyond correction. The Maharaja will then Soar again.
They need to address the core question of bloated staff with very little commitment and poor productivity.
Minister Patel says, "Ultimately if such people are willing to contribute for a public cause, for bringing the national carrier back on track, I think it is a great thing." What an arrogant statement?These people that he has run to inorder to salvage his loss making undertaking, have contributed to public causes by building and managing successful and profitable enterprises which are celebrated all over the world. They have done India proud.Mr. Patel can show some humility at a time of despair such as now. He should be prepared to learn from such people a thing or two about business management.
There are enough Indians residing out side India to travel on Air India. But problem is air India always looks for other customers. Air India always treats Indians as slaves never as a valuable costumer. Real example is how they treat Gulf passengers. learn to respect NRI ( not as Not Required in India)