Air India has relaxed the new standard regarding collecting privilege leave for employees retiring in the current and next fiscal year. In March, the Tata Group airline revised its policy regarding privileged leave for both permanent and full contractors to align the policy with prevailing market conditions. As of April 1, the accrual limit of Privilege Leaves (PLs) for all employees is 60 days in a given fiscal year.
Against this background, the airline has introduced a relaxation for staff who are retiring. In his message to staff on Friday, Air India CEO and Managing Director Campbell Wilson mentioned that the airline decided in March that all PLs would be cashed after 60 days. , many of you nearing retirement asked if this could be postponed until your retirement age. “Our HR team contacted the external tax authorities and were fortunate to be able to come to an agreement that, for those retiring in the next two fiscal years i.e. FY 2023-24 and 2024-25, we can now accommodate the request I’m sorry we weren’t able to secure the opportunity to do this for those who retire later, but we tried,” he said.
An insider said the move will help workers approach retirement in terms of retirement benefits. There is a tax exemption for collecting leave of up to Rs 25 lakh during retirement and that benefit can be availed with the easing. Meanwhile, the airline is working on the five-year transformation plan ‘Vihaan.AI’.’ through June, me and other colleagues from management and the various Vihaan project teams will be traveling to cities across the country to meet more of you in person.
“We will be sharing details of what is being worked on, seeking your views, suggestions and assistance to advance our mission, and provide updates on what is happening in the company more generally. These will ensure that we all share the same direction, purpose and energy,” said Wilson.