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Vistara Introduces Voluntary Retirement and Separation Schemes Ahead of Air India Merger

Vistara has announced new retirement and separation schemes for its ground staff as it prepares to merge with Air India by the end of the year 

31-07-2024
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On Monday, Vistara unveiled a Voluntary Retirement Scheme (VRS) and Voluntary Separation Scheme (VSS) for its employees as it prepares for its merger with Air India. The schemes are targeted at the airline's permanent ground staff.

The move follows a similar decision by Air India, which had previously introduced a similar scheme for its ground staff, according to Business Standard. Vistara's VRS is available to permanent ground staff who have been with the airline for at least five years, while the VSS applies to employees in non-flying roles with less than five years of service.

Under the schemes, eligible employees will receive benefits such as gratuity, leave encashment, and provident fund, in accordance with company policies and government regulations. The ex-gratia amount will be determined by authorized government guidelines. Notably, the scheme excludes licensed role holders, cabin crew, pilots, and those retiring by the end of the current financial year.

The merger of Vistara with Air India is expected to be completed by the end of this year. Vistara, which employs approximately 6,500 staff, will become part of a single full-service carrier with Air India. Additionally, Air India's low-cost subsidiaries, AIX Connect and Air India Express, will merge to form a unified budget airline.

Ground staff, who manage customer service, security checks, ramp service, baggage handling, and cargo operations, play a crucial role in airline operations, assisting with a range of issues including security and luggage handling.

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