Claiming that it has never asked for a bailout package from the government, cash-strapped flag carrier Air India today said it is aiming for a turnaround in the next three years on the back of various initiatives, including on-time performance and seamless connectivity.
“We have never written to the government for a bailout package ... we have never talked of waiver of ATF charges, waiver of taxes, waiver of penalties,” Air India chairman-cum- managing director Arvind Jadhav told reporters here.
His comments came a few days after private airlines demanded reduction of sales tax on jet fuel, cut in airport charges and had even threatened to go on strike on the issue.
He said the airline had sought equity infusion and also soft loan.
Air India is talking with banks and financial institutions to convert its Rs10,000-11,000 crore high-cost debt into a low-cost one.
Jadhav said the company’s all earlier acquisitions were done through internal resources and not by taxpayers money.
Hinting a turnaround in its working, Jadhav said “NACIL has to change the way its does business.”
Giving a roadmap to recovery “in the next 36 months,” Jadhav said, “In the next six months, my first priority will be on-time performance. Unless, the airline does not perform on-time no one will come to us.”