AI to pay more for insurance renewal

The sudden cancellation of Air India s earlier brief to insurers for renewal of its insurance cover has stumped the domestic and international insurance market. Cash-strapped Air India, which doesn t have money pay its employees, has to pay much higher price than what it would have paid if the original plan to place the deal would have been varied out. Air India has to pay a higher premium as the global aviation insurance market has hardened up substantially after the Air France mishap in the first week of June. Air India, after canceling its original mandate to the insurers, has once ...

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