'$125 million for the hull and the remaining of over $350 million for liability.'
While Bhasin will be getting provident fund money and gratuity, he would not be getting leave encashment for 420 days, medical reimbursement for himself and wife, free passes for himself and wife, and holiday home facilities.
The Air India board has decided to reduce by 50 per cent the productivity-linked incentives or flying allowance payable to its employees.
The last rites of Captain Sumeet Sabharwal, pilot in command of the Air India plane that crashed in Ahmedabad last week, were performed in Mumbai on Tuesday with his grief-stricken father bidding a heart-wrenching, tearful farewell to his son before the cremation.
The new owners of Air India will have to retain all the employees of the national carrier for at least one year post which they can offer a VRS. The gratuity, pension fund and post retirement medical benefits of existing and past employees too would be honoured by the new owner, civil aviation secretary Rajiv Bansal said. Tata Sons has emerged as the winning bidder for Air India with the government accepting its Rs 18,000 crore offer to acquire 100 per cent of the debt-laden state-run carrier.
The average number of flights the Air India group, including subsidiaries Alliance Air and Air India Express, operates daily is 674.
The senior pilot was suspended in May last year after being found guilty of sexual harassment by an internal committee of the airline. The committee imposed a 'major penalty' on Captain Sachin Gupta, who has now appealed to the next authority against the punishment.
If the idea of LWP scheme is to only weed out around 600 employees and subsequently save the carrier Rs 10 crore a month, the management could have easily laid off the retired employees, who had an advantage over others by dint of having 'connections' internally and in the corridors of the ministry of civil aviation, say Air India staff.
HAL aims to raise output from the current ceiling of 24 aircraft a year to 30 by the end of 2027
As the potential threat of a steep 200 per cent tariff on pharmaceutical imports hangs in the air, analysts and industry insiders feel that focus on exports to non-US regions as well as domestic market will increase as a long-term trend. US President Donald Trump told CNBC's Squawk Box in the first week of August that planned tariffs on import of pharmaceutical products to the US could eventually reach up to 250 per cent.
'If 138 soldiers have been given a gallantry award as 'shaheed' (by Pakistan) for Operation Sindoor, how many would have been the actual casualties. This decides who won.
Addressing close to 700 employees and the leadership team across the Air India headquarters and Air India Training Academy in Gurugram, Chandrasekaran urged them to stay on course, terming the accident the most "heartbreaking" crisis of his career.
Consumer durables makers are hopeful that the government's proposal to reduce goods and services tax (GST) on air conditioners and television panels above 32 inches to 18 per cent would help revive the sector.
The CMD thinks the carrier will be back in the black next fiscal; his colleagues can't understand how.
"When the fuel control switch has to be cut off, the pilot flying will say, fuel control switch left, confirm. So, after the confirmation is made by the second pilot, the pilot monitoring will cut off (the switch).
'... when the process isn't transparent, people will naturally raise questions. 'The AAIB's own press release says they had the black boxes by June 16.' 'Why wasn't decoding initiated until the 24th? What were they waiting for?'
However, Federation of Indian Airlines will continue to function and its other members are not pulling the plug yet, industry sources said.
In a letter to Air India Chairman and Managing Director Rajiv Bansal, the ICPA said, "In the press conference by Honourable Minister Shri Hardeep Singh Puri dated 16th July 2020, you had stated 'we are in negotiation with the pilots', which is far from reality." "It was not a negotiation, but the 'diktat' of the MoCA (ministry of civil aviation) which was conveyed to us. We would also like to place on record that the so-called negotiation was 'not harmonious' in any aspect," the Indian Commercial Pilots' Association (ICPA) noted.
$3.6 billion worth of aircraft - by today's prices - are lying idle or are in hangers due to poor maintenance and management
Nearly 70% of autoimmune disease patients in India are women. Doctors have observed that autoimmune diseases are far more common among women, especially between the ages of 20 and 50, when hormonal and lifestyle factors are most active.
'AAIB preliminary report was more detailed than most people were expecting.'
'This (crash) is one of those times where there is no concrete explanation yet for what happened. I think that adds to my parents' worry.'
A 1985-batch Karnataka cadre officer, Kharola would be steering the national airline at a time when the government has started the process for its strategic divestment.
Anjuli Bhargava's musings on why the national carrier is well beyond a turnaround.
Air India Boeing 787-8 crash in Ahmedabad has brought back all traumatic memories.
As lower GST rates take effect on Monday, sales of air-conditioners, TV sets surged dramatically with buyers rushing to grab cheaper deals offered by retailers at the beginning of the Navratra festival.
The move will help to reduce Air India's distribution cost by 60 per cent
Stressing that wars are "very bad", Trump said that he seems to have "an ability to end them, to get people together" for which he uses the "power of the United States".
Lightning claims more lives in India annually than any other extreme weather event. Between April and July this year alone, 1,621 people died due to lightning strikes.
Colliers reports that GCC leasing has jumped from 4.6 million square feet in 2021 and is expected to hit 10.6 million square feet by 2025 -- a clear sign that multinationals see Bengaluru as a long-term base.
The talks over the hotline were previously scheduled at 12 noon. The reason for deferring the talks by few hours is not immediately known.
India's robust air defence system effectively thwarted Pakistani attempts to target Indian installations.
The Air India and Indian Airlines combine, wearing the new Air India brand and livery, is set to give a snazzy new look for its cabin crew.
Aviation watchdog Directorate General of Civil Aviation (DGCA) on Tuesday said surveillance conducted at major airports revealed several defects in the aviation ecosystem, including multiple cases wherein the defects reappeared on aircraft and centre line marking faded on runway.
Ilker Ayci has declined the Tata Group's offer to be the chief executive officer (CEO) and managing director of Air India, aviation industry sources said on Tuesday. On February 14, Tata Sons had announced the appointment of Ayci, former chairman of Turkish Airlines, as the CEO and MD of Air India. RSS-affiliate Swadeshi Jagran Manch had last Friday said the government should not give clearance to the appointment of Ilker Ayci "keeping in view national security".
'They thought nobody would hit Bahawalpur and Muridke because they have nuclear weapons.' 'They used to think India cannot touch our military targets because we are a nuclear weapons country.' 'After Operation Sindoor we have called their bluff.'
The EoI and the share purchase agreement would be issued in January itself for the bidders. While Air India's net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore.
Civil aviation ministry has also reached a consensus to give a five-year term to the next CMD of the ailing state-owned airline.
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