Tag: Air India

Tatas beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12,906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier.

The first accused is Binoy Jacob, then top official of Air India SATS in Trivandrum, second accused is Swapna Suresh, then HR manager of Air India SATS.

A guaranteed minimum pension of Rs 1,000 will be available to the employees and to the family members and dependents in case of death of an employee.

On Friday, the first day post the formal take over by the Tata Group, the pilots were asked to change the welcome announcement which are made after the closure of the cabin.

Under the agreement with the Centre, no employee will be removed for one-year. In the second year, if an employee has to be removed, a VRS option will be provided.

In a separate social media post themed "Looking back, looking forward", Chandrasekaran reiterated that Tata Group is committed to making Air India a world-class airline.

The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. The deal also includes sale of Air India Express and ground handling arm AISATS.

While this will be the Centre's first privatisation since 2003-04, Air India will be the third airline brand in the Tatas' stable as it holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd.

Cabin crew, who are well dressed and well groomed according to uniform standards and regulations, present a positive and professional image of the airline, the order stated.

Tatas had on October 8 beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12,906 crore set by the government for the sale of its 100 percent stake in the loss-making carrier.

The US aviation regulator had on January 14 said that "5G interference with the aircraft's radio altimeter could prevent engine and braking systems from transitioning to landing mode, which could prevent an aircraft from stopping on the runway".

Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt.

At present, Air India has a total strength of 12,085 employees, which includes 8,084 permanent staff. Air India Express has 1,434 employees.

With the opening up of the aviation sector to private players in 1994-95 and private entities offering cheaper tickets, Air India gradually started losing market share.

The process for the sale of Air India, which is reportedly reeling under a debt of over Rs 60,000 crore, had begun in July 2017.