VRS scheme for Airports Authority employees approved

New Delhi: The government Tuesday said it has approved a voluntary retirement scheme (VRS) proposal for Airports Authority of India (AAI) employees working in the Delhi and Mumbai airports.
As per the AAI proposal, employees up to the rank of deputy general manager in these two airports will be eligible for opting for VRS.
Civil Aviation Minister Praful Patel Tuesday told the Rajya Sabha that at least 601 Air India employees have opted for VRS after the approval was given to the scheme.
AAI has about 20,000 employees across the country. Its revenues grew 15 percent to Rs.4,289 crore in 2007-08 from Rs.3,726 crore in 2006-07.
However, officials fear fall in revenues this fiscal due to an unprecedented slowdown in the aviation sector.
Giving details of the scheme, Patel said those opting for it would get ex-gratia of 60 days salary for each completed year of service or salary for the number of months' service left, whichever is less. The compensation under VRS will be in addition to the terminal benefits to all opting for the scheme.
08/12/09 IANS/Economic Times

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Categories: Airports Dec 2009