Mumbai: Air India has asked its senior management to voluntarily forego salaries and productivity linked incentives in July due to an ongoing liquidity crunch, the state-run airline said in a statement on Friday.
The firm's chairman and managing director, Arvind Jadhav, has requested executives in the level of general managers and above to forego salaries in July, the airline said.
The firm had earlier this month decided to defer the salary and incentives of all employees for June, by 15 days.
The payment of productivity-linked incentive too has been delayed by 15 days, according to a circular issued by Air India management.
Air India's losses for the last financial year are estimated at around Rs 4,000 crore, up from Rs 2,226 crore in the previous fiscal.
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