air india And ahead of the merger with Vistara, a section of Air India pilots are unhappy over the different retirement age limits for pilots of the two Tata Group-owned airlines. Giving this information on Sunday, sources said that the management has not yet resolved the issue. Vistara will merge with Air India on Monday. The retirement age of pilots and other employees of Air India, which came under Tata ownership in the beginning of 2022, is 58 years. Whereas in Tata Group's other airline Vistara, this limit is 60 years. Sources said there is growing resentment among a section of Air India pilots as the management has not yet fixed a uniform retirement age for the merged entity.
Issue not resolved yet
Air India did not comment on this issue. Sources said, ahead of the Vistara merger, there is a lot of resentment among a section of Air India pilots regarding the retirement age limit. A source, speaking on condition of anonymity, said the management had not yet resolved the issue of two different retirement age limits. Under current DGCA rules, a pilot can remain in service till the age of 65 years. Air India had said in August this year that it would retain select pilots on contract basis for a period of five years after retirement.
Will invest Rs 3,195 crore in Air India
Singapore Airlines will invest an additional Rs 3,194.5 crore in Tata Group-owned Air India following its merger with Vistara in November. This merger agreement was announced on November 29, 2022 and is going to be completed on November 11, 2024. Due to this merger, Singapore Airlines will have 25.1 percent stake in the expanded Air India. Vistara started operating flights on January 9, 2015. Singapore Airlines has a 49 percent stake in this joint venture established with the Tata Group. Singapore Airlines (SIA) Group on Friday said its consideration for the merger includes Rs 2,058 crore in cash in exchange for a 49 per cent stake in Vistara and a 25.1 per cent equity stake in the expanded Air India.
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