Air India may get the aviation veteran Alex Cruz as its Chief Executive Officers, unconfirmed reports say. Cruz was the Chairman and CEO of British Airways for five years till 2020. He also headed a Spanish low-cost airline Vueling. Cruz resigned from British Airways during the onset of the COVID-19 pandemic when the airline cut 13,000 jobs. He is currently shown as an investor, board member and advisor on some... Read More
According to the budget documents released yesterday, the government has allocated Rs 62,057 crore to a special purpose vehicle (SPV), Air India Asset Holding Ltd (AIAHL), to house the majority of Air India’s debt. The government has also assigned Rs 1,944 crore to Air India to cover all losses incurred during the pandemic to clear the liabilities of the national carrier for handover to Tata Group’s subsidiary Talace Private Limited.... Read More
In response to Air India’s privatisation, Union Minister Jyotiraditya Scindia said that nationalising an airline belonged to the private sector was a 69-year-old mistake. Minister sees Air India disinvestment as a mistake corrected. He gave credit for the success of the Air India takeover to Prime Minister Narendra Modi. “It was only possible because of his dedication, resolution and willpower of PM Modi that he took the decision of Air... Read More
Delhi High Court ordered to dismiss the plea filed by BJP leader Subramanian Swamy against the Air India disinvestment process. The Court found no illegality and arbitrariness in Air India’s sale to Tata Sons, as pointed by the petitioner in the judicial review. In his plea against Air India’s privatization, BJP leader Subramanian Swamy asked Delhi High Court to set aside the Air India disinvestment process on the grounds that... Read More
The employees of Air India and Indian Airlines will now come under the ambit of Employees Provident Fund Organizations (EPFO). The ministry scraped off the two notifications dated February 1962 and January 1963 that counted them under an exempted trust managed by the national carrier so far. Coming under EPFO will provide the employees with better returns than they were under the trust. The decision will come into effect from... Read More
Amidst the process of disinvestment, Air India now faces a new hurdle of mass resignation from its pilots. Around 120 pilots of Airbus A320 have tendered their resignation after their salary and promotion demands were not heard. “Air India management should listen to our grievances. Our demand regarding salary hike and promotion is long pending before them, but they have failed to give a strong assurance,” ANI quoted an unnamed... Read More
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