Air India not liable for compensation under current insurance policy

Air India may have to rely solely on Boeing for compensation for the loss caused due to its Boeing 787 Dreamliners being grounded, as the insurance cover it has taken does not cover financial losses due to glitches occurring on account of technical and other factors. Read more

Life Insurance Corporation of India, EPFO to fully subscribe to bond issue of Air India

Life Insurance Corporation of India (LIC) and the Employee Provident Fund Organisation (EPFO) have decided to fully subscribe to the Rs.7,400 crore bond issue of Air India, thus giving a lifeline to the national carrier. An Air India spokesperson said that both LIC and EPFO have agreed to buy all the non-convertible debentures (NCDs) being sold to raise resources to repay bank loans. Read more