Business Daily from THE HINDU group of publications
Wednesday, Oct 10, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 10, 2007 ePaper |
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Airlines Industry & Economy - Climate & Weather Money & Banking - General Insurance Air India seeks fog insurance for 5-month period The airline plans to take a risk coverage of Rs 20 crore and is seeking a maximum daily expenditure of Rs 10 lakh for delays at Indian airports. Ashwini Phadnis New Delhi, Oct. 9 For the second year in succession, Air India is seeking insurance cover against loss arising out of its flights getting delayed by foggy conditions at 17 airports around the globe. In 2006, the airline had awarded the fog insurance contract to Oriental Insurance. The airline is now seeking a cover for a five month period starting November this year. Among the domestic airports to which the airline operates and has identified as running the risk of being hit by fog related delays include Bangalore, Dibrugarh, Lucknow, Srinagar, Delhi and Amritsar. The international airports include New York, Chicago, Toronto, Birmingham and Frankfurt. Risk coverageThe airline plans to take a risk coverage of Rs 20 crore and is seeking a maximum daily expenditure of Rs 10 lakh for delays at Indian airports and Rs 20 lakh per day for delays at international airports. The funds would be used to cover expenses incurred by the airline on account of re-routing of the aircraft and providing hotel accommodation for passengers. In the recent past, the airline has taken a number of steps to ensure that passengers are not troubled by fog related delays. A few years ago, during the winter season the airline used to ferry passengers from Delhi to Mumbai and then take them to their final destination to ensure that north Indian passengers were not affected by fog. More Stories on : Airlines | Climate & Weather | General Insurance
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