In a news that would have brought smiles on the faces of those who are closely associated with the Maharaja; Air India has said that it is going to break-even by 2014-15.

This is going to happen since the airline is going to follow an ambitious turnaround program which is going to help it in wiping out Rs14,000 crore of accumulated losses and Rs18,000 crore of debt that is present on its balance sheet.

No plan is not going to have any job cuts and/or wage reductions and has already been approved by the board of Air India. Talking to media, Chairman and Managing Director, Arvind Jadhav also informed that it has suggestions made by 33,500 employees of the airlines.

Talking to the media, Jadhav said that looking at the “shrinking demand scenario,” the plan has prepared ways that will help it is reviving passengers demand as well as yields.

He further added that revisits will be made every three months which will be based on the changing dynamics of the competition and demand.

The plan was presented by the Civil Aviation minister, Praful Patel.