As per the first scheme, employees can take two-year leave without pay, which could be extendable by another five years. The employees will, however get free medical and passages. ``It's a very illogical cost-cutting measure adopted by the company. We even refuse to call it a voluntary retirement scheme,'' says S M Rao, president of Air India Officers' Association.

``The scheme offers nothing. A VRS or a lay-off always offers some reward so that it can save employees from a financial collapse... but both the schemes lack any attraction and would flop just like a similar scheme launched by Indian Airlines,'' sources said.

``On the contrary, those employees, who make the mistake of taking these schemes, do not have the option to take upemployment somewhere else... the schemes have been designed without taking the welfare of the employees,'' they added. Importantly, the employee will have to clear all dues/loans and vacate official quarters before proceeding on their unpaid leave.

If the first scheme is unattractive, the second scheme is equally meaningless. It offers three-day a week work option at a salary 60 per cent of their gross salary. ``We do not understand the logic behind the three-day pattern. Who will complete the work of that employee who works for only three days? In the second scheme, the management will have to pay more as overtime instead of saving money,'' Rao said.

Both schemes are open to all staffers barring pilots and flight engineers. While the two-year leave option is opening from October 1, the second option would be effective from November 1.As the loss-making airline will not be able to sack people due to its strong and militant unions, it has designed these quickfix solutions to save itself from a financialmuddle. Due to its precarious financial position, the airline is unable to pay a lumpsum amount to its employees which is usually accompanies any VRS in order to make it attractive.``It is because of these hare-brained ideas that this airline is not making money,'' said an agitated employee at the Mumbai's Sahar airport.

For the first quarter of the current fiscal, Air India has already recorded a loss of over Rs 80 crore in Q1 this fiscal.``During our meetings with the management, we have said that there should be some common yardstick for deciding the benefits to be given to the employees availing of this offer,'' Rao said. ``If the airline is really serious about improving its bottom line, then they must reorganise their goals and business strategies... such ploys won't work,'' adds R B Chaure of the Officers' Union.PTI adds: In a bid to trim its wage bill amounting to about Rs 875 crore, A-I has formulated two innovative VRS for its 18,000 employees. SaysJ Bhargava, Director,of A-I: ``These steps arebeing taken along with other measures to help the airline cut the losses.''