Air India announces VRS, employees will be able to take retirement on their own, will get lump sum money
Air India announces VRS plan.
Air India VRS Offer: The age limit has been reduced from 55 to 40 regarding the eligibility of the employees. Employees who apply for voluntary retirement between June 1 and June 30 will get additional incentives apart from ex-gratia.
from government to private Air India ,Air India) announced other measures including cash incentives to encourage a section of its employees for the Voluntary Retirement Scheme. With this, the age limit for the eligibility of employees has been reduced from 55 to 40. Tata Group (Tata Group) took control of Air India on January 27 last year after successful bidding on October 8 last year. In a letter to the employees, the airline said that under the existing regulation of Air India, permanent employees if they are 55 years old and have worked for 20 years, they can take voluntary retirement.
The company is reducing the age limit for crew members from 55 to 40 years as an added benefit. It said, ex-gratia will also be provided in the form of lump sum benefit to the employees applying for voluntary retirement from June 1, 2022 to July 31, 2022.
Those who take VRS till June 30 will get extra incentive
Apart from this, employees who apply for voluntary retirement between June 1 and June 30, will get additional incentive in addition to ex-gratia. The Company has stated that acceptance of the application will be at the discretion of the Management.
The airline had 9,426 permanent employees as of November 2019. In May, Tata Sons appointed aviation industry expert Campbell Wilson as the CEO and MD of Air India. Campbell Wilson has 26 years of experience in the aviation industry. He started his career as a Management Trainee with Singapore Airlines in New Zealand in 1996.
Medical insurance facility started
Air India employees have started getting the facility of new medical insurance. The sum assured for this medical insurance will be Rs 7.5 lakh. Seven family members can be covered in this. The first employee, second his spouse, three children and parents or mother-in-law can be involved. This medical insurance also has the facility of corporate buffer.
Air India’s pilots and crew members are now slowly getting relief from the reduction in salary during Kovid. During Kovid, a cut was being announced to reduce the cost of salaries of pilots and crew members, which is now being withdrawn in a phased manner.
Tata Group bought Air India for 18 thousand crores
Tata Group’s subsidiary Talace Private Limited bought Air India on 8 October 2021 for 18000 crores. Tata Sons chairman N Chandrasekaran has been officially appointed as the chairman of Air India.