The minister also added that, the employees of these five units will be offered a very good and attractive VRS package. HMT was the market leader in manufacturing watches and tractors while Air India Air India – the third largest airline in India – is the flag carrier airline of India owned by Air India Limited (AIL), a Government of India enterprise.
Air India accumulated losses of Rs 5388 crore, Rs 5490 crore and Rs 7559 crore in years 2013-14, 2012-13 and 2011-12 respectively, according to the figures tabled in the House. MTNL showed profit of Rs 7820 crore in 13-14 but had incurred losses of Rs 5321 crore and Rs 4109 crore in the previous years.
Earlier, there were reports about Government’s plan to shut down loss making PSUs. See it’s details below:
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