The Indian domestic air carrier Air India has finally put an end to the idea of Voluntary Retirement Scheme it was toying with for some time.

Air India in fact approved a VRS package in the month of July 2012 for the employees served for 15 years or of 40 years of age.  5000 employees were expected to opt for the scheme.  But the air carrier finds that the need for pursuing the VRS has gone now with decreasing pay bill.  It was Rs.3500 crore in the financial year 2012 which came down to Rs.3200 crore in FY 2013 and expected to come down further this financial year ending 2014.

The reason for it is there were retirements to the tune of 3000 and 200 more have left because of other reasons.  This has obviated trimming of the personnel.  At present the work force of Air India is about 24000 and 1500 employees are going to retire by March 2014.

So, no VRS for the time being and for some time to come in Air India!

-SriJa