Tata Group owned airline Air India is planning to disburse up to Rs 200 crore worth severance to 2000 employees under its voluntary retirement scheme (VRS) as per a report.
Livemint reported that the airline has set aside Rs 200 crore for employees who sign up for their Voluntary Retirement Scheme. Last week the airline offered voluntary retirement to its non-flying staff. This is the second such offer by the airline ever since Tata Group took control of the loss-making airline in January 2022.
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As previously reported by Business Today, the VRS will be open for permanent general cadre officers who have attained the age of 40 years or above and completed a minimum of five years of continuous service at the airline.
Furthermore, clerical and unskilled employees who have completed a minimum of five years of continuous service at the airline will also be eligible for this scheme.
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Air India announced last week that they would be adding 470 aircraft manufactured by Boeing and Airbus to their fleet. The negotiations with the aircraft manufacturers were led by top executives Nipun Aggarwal and Yogesh Agarwal.
In a now deleted post on the professional networking site LinkedIn, Aggarwal mentioned that this deal included 370 options as well.
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He wrote, “It is indeed a landmark moment in the history of Air India and Indian aviation. This order of 840 aircraft has been a culmination of a fascinating journey that began almost two years ago starting with the Air India privatisation process.”