Air India staff may have to wait till June 15 for May salaries

Cash-strapped Air India's employees will have to wait at least till June 15 for their May salaries. "Disbursement of salary for the month of May is delayed and the payment is likely to be made on June 15," Air India said in an official communication today. This is the third time in a row that the airline has delayed the payment of salaries amid cash crunch as even March and April payments were not made on time.

Air India employees generally get paid by the 30th or the 31st of every month. It can be noted that Air India had on June 5 floated invitation of offers seeking government-guaranteed short-term loans from banks and financial institutions of Rs 1,000 crore to meet "urgent" working capital requirements.

The loan will be drawn in June in one or more tranches, according to the bid document. The airline has asked banks to submit financial bids by June 13.