Air India board okays Rs 800-cr VRS package

Bangalore: Union Civil Aviation Minister Ajit Singh on Tuesday confirmed that the board of Air India had approved a Rs 800-crore package to facilitate voluntary retirement of its employees.
“There was a proposal and the board recently approved the same with about Rs 10 lakh earmarked for some individuals,” he said answering a specific question. Further, as part of the Air India revamp plan, he said the airline would be hiving off two sections of its business—engineering and package handling—to form separate firms.
“About 7,000 of the engineering staff will be transferred to a separate firm which can also focus on maintenance repair and overhaul (MRO), while another 12,000 will be transferred to transportation services,” he said.
17/07/12 Deccan Herald

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Categories: Air India Jul 2012