3rd round of talks today, Air India crippled for 10th day

Aviation ministry officials are also optimistic that the deadlock would end soon. After parleys with joint secretary Prashant Shukul, the pilots also met aviation secretary Nasim Zaidi for the first time since the talks began on Wednesday

Mumbai: With two rounds of talks between the striking pilots and the government failing to end the deadlock, both sides have agreed to meet again today, even as the domestic operations of the national carrier Air India (AI) remained crippled for the tenth consecutive day, reports PTI.

With the strike still on, the airline has grounded up to 90% of its operations and has been operating around 30 flights a day besides some charter flights from Kingfisher and Air Arabia.

Yesterday, the airline operated 18 charter flights, 16 domestic and two international using aircraft borrowed from Kingfisher and Air Arabia, a company spokesperson, adding it may continue to do so today as well.

The civil aviation ministry yesterday held talks with the agitating pilots to find a way to break the ice following the strike, for the second time. The talks, however, were inconclusive.

Aviation ministry officials are also optimistic that the deadlock would end soon. After parleys with joint secretary Prashant Shukul, the pilots also met aviation secretary Nasim Zaidi for the first time since the talks began on Wednesday.

The striking pilots are demanding that all sackings, suspensions and transfers effected during the strike period be revoked, ICPA’s recognition be restored, contempt of court petition filed by AI management be withdrawn, a Central Bureau of Investigation (CBI) probe into the alleged corruption and mismanagement be ordered and all other issues be tackled in a time-bound manner.

Air India has sacked seven pilots and suspended six and the management has decided not to process the April salaries of the agitators “till further instructions”.

The Delhi High Court had on Tuesday slapped contempt notices on nine office bearers of the de-recognised ICPA for disobeying its order to call off the strike.

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COMMENTS

Vikram

6 years ago

This is a serious fraud mam. Please investigate.

http://www.financialexpress.com/news/ai-...

Please do not privatize this airline. That itself it the fraudsters wish.

Muthoot Finance debuts with over 12% premium

Shares of Muthoot Finance debuted at Rs196.60 a piece, up 12.34% from their issue price on the NSE

Muthoot Finance, a non-banking financial company, engaged in the gold loan business, made a strong debut on the National Stock Exchange on Friday, opening with a premium of over 12% vis-a-vis its issue price of Rs175.

Shares of the company debuted at Rs196.60 a piece, up 12.34% from their issue price on the NSE. Within minutes of the trade, the scrip saw some profit booking and was trading at Rs177.15.

On the Bombay Stock Exchange, the scrip debuted at Rs180 a piece over the issue price, reflecting a jump of 2.85%.

In terms of volume, over two crore shares of the company changed hands on the bourses within the first hour of trade. Muthoot Finance had entered the capital market with a price band of Rs160-Rs175 a share under its initial public offer (IPO) of 5.15 crore equity shares.

The company raised Rs901.25 crore through the issue of 5.15-crore equity shares, which will be mainly used to augment its capital base for meeting future capital needs, funding of loans and for general corporate purposes.

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Birla Sun Life Mutual Fund floats 182 days fixed maturity plan

Birla Sun Life Mutual Fund new issue closes on 9th May

Birla Sun Life Mutual Fund has launched Birla Sun Life Short Term FMP-Series 14, a close-ended income scheme.

The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The scheme will have duration of 182 days.

The new issue closes on 9th May. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Kaustubh Gupta is the fund manager.

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