Top insurers compete to cover Air India fleet

Top insurance companies, are competing to provide insurance cover to Tata Group-owned Air India’s fleet for the next financial year (2023-24). This includes insurance cover for new planes that would be delivered in the next financial year.

Insurance executives say a large number of multinational companies based in Europe have met Air India executives in London to discuss the contours of the insurance cover.

Last year, insurance companies jointly provided $12 billion insurance cover to Air India (for its 117 aircraft) and Air India Express (for its 24 aircraft). The airline had paid an insurance premium of about Rs. 300 crore.