Air India announced a voluntary retirement offer for all of its non-flying staff on Friday. This is the second voluntary retirement offer by the Tata Group. The group acquired the loss-making airlines last year in January by winning a bid of ₹18,000 crores. The nostalgic homecoming of the airlines under the Tata Group was not just a normal business acquisition.
Air India Makes A New Voluntary Retirement Offer
Air India announced the latest voluntary retirement offer will be available for the permanent general cadre officers. The permanent general cadre officers, who have worked for the airline for at least five years continuously and are at least 40 years old.
Also, employees in the administrative and unskilled categories who have served continuously for at least five years are eligible. This offer will be open to all the eligible ones until April 30.
The most recent voluntary retirement offer will be available to a total of about 2,100 employees. The airline currently employs roughly 11,000 workers, both flying and non-flying staff combined. The airlines launched the first phase of voluntary retirement in June 2022.
Employees had asked that the additional perks of voluntary retirement be made available to all permanent employees. In response to this, the airlines launched the voluntary retirement offer’s second phase.
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Employees To Receive An Ex-Gratia Amount Too
Employees will receive an ex-gratia sum as a one-time benefit if they file for voluntary retirement between 17 March 2023 and 30 April 2023. Up until March 31, 2023, eligible employees who applied would receive an additional ₹1 lakh over the ex-gratia amount.
Both flying and non-flying workers were covered by the initial retirement offer. At the time, approximately 4,200 employees were eligible, and of those, approximately 1,500 accepted the offer.
The transformation plan Vihaan.AI, which focuses on several targets to be achieved over a five-year period, was announced by Air India in September of last year. The strategy aims to place Air India on a course for consistent growth, financial success, and market dominance.
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