IATA DG Praises AAIB's Detailed Preliminary Report on Air India Plane Crash, ETTravelWorld
Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox.
All about ETTravelWorld industry right on your smartphone! Download the ETTravelWorld App and get the Realtime updates and Save your favourite articles.
The Aircraft Accident Investigation Bureau 's ( AAIB ) preliminary report on the Air India plane crash contains more information than most people were expecting, which is helpful, global airlines' grouping IATA on Wednesday.The International Air Transport Association (IATA) is a grouping of around 340 airlines, including Air India.At an event in Singapore on Wednesday, IATA Director General Willie Walsh, who is also a pilot, said aircraft accident investigators should be allowed time to conduct investigations properly and it is also important for the industry that the reports are published in a timely manner."I commend the Indian government and the AAIB for the release of the preliminary report, which I think contained more information than most people were expecting, which was helpful... I think all airlines and all aviation professionals will now await the publication of the final report, which I'm sure will go into significantly more detail," he said.Walsh also noted that he is very pleased that the Indian government and the AAIB issued the preliminary report on time.AAIB released the preliminary report into the crash of Air India's Boeing 787-8 aircraft that killed 260 people on June 12.In the report published 30 days after the accident, AAIB said the fuel switches to the engines of the aircraft were cut off within a gap of 1 second immediately after takeoff and caused confusion in the cockpit before the plane crashed into a building.Walsh said that while no formal recommendations were made by AAIB to Boeing or to engine manufacturer GE, some airlines have taken it upon themselves to check the fuel cutoff switches. "I think it is a sensible thing to do in the circumstances".While the initial report does not provide any conclusions, there are speculations in certain quarters that a possible pilot error could be a reason for the crash. Such a proposition has been strongly rejected by various pilot associations.According to him, the airline industry has always been very open in sharing information."We believe that any accident or any major incident that takes place needs to be investigated fully, properly, and reported so that everybody can benefit from the experience. And I think, you know, based on what little we know now, it's quite possible that, you know, a video recording in addition to the voice recording would significantly assist the investigators in conducting that investigation," he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
17 minutes ago
- The Hindu
Active seniors hatch a silent revolution
In kitchens and classrooms, through trekking trails and theatre groups, across WhatsApp and wellness apps, there is a quiet revolution unfolding in India. Our active seniors are no longer 'retiring'; they are just getting started. Call them the second-innings generation. These are Indians in their mid-to-late 50s to 70s who are pushing the boundaries of what ageing looks and feels like, seeking health, learning, purpose, and community in ways that previous generations never imagined. Demographic inflection point India is ageing fast and actively. According to the UNFPA India Ageing Report, 2023, the population aged 60-plus is projected to reach 319 million by 2050, accounting for 20% of the total population. Life expectancy has risen sharply from 63 in 2000 to over 70.9 in 2024, and it continues to climb. This demographic shift represents more than statistical progression; it signals a fundamental recalibration of India's age structure. Unlike the gradual ageing experienced by developed economies over several decades, India faces compressed demographic transition, a phenomenon that demands immediate policy attention and systemic adaptation. What is even more telling is the shift in lifestyle patterns. A 2022 NASSCOM study reported a 50% increase in digital adoption among Indian seniors over five years, with more older adults using smartphones for video calls, online learning, banking, fitness tracking, and social engagement. This technological embrace contradicts persistent stereotypes about seniors' relationship with technology and innovation. Simultaneously, data from Agewell Foundation shows that more than 30% of Indians aged 60 to 69 remain economically active. Many are choosing to take on new professions, consult, mentor, or launch ventures post-retirement. This cohort represents the first generation of Indians to benefit significantly from economic liberalisation, accumulating substantial wealth and developing sophisticated consumption preferences. The economic imperative These numbers point to something bigger than a trend. It's a movement that carries profound economic implications for India's growth trajectory. Consider the purchasing power concentration. It's believed that the top decile of Indians — predominantly seniors — controls over 70% of the nation's wealth. This demographic possesses both the financial means and the time to engage in discretionary spending, yet remains largely underserved by contemporary market offerings. The economic potential extends well beyond consumption. The concept of the 'longevity economy', encompassing all economic activity generated by the needs and aspirations of people over 50, is fast emerging as one of the most significant growth opportunities for India. This represents an ageing challenge and an unprecedented market opportunity that requires strategic cultivation. Not just new-age start-ups, but many legacy business houses have begun tapping into this evolving market. Moreover, the knowledge economy benefits significantly from senior participation. Their institutional memory, professional networks, and accumulated expertise represent intangible assets that when properly harnessed, can drive innovation and mentorship across sectors. Countries such as Japan and Singapore have already begun institutionalising such knowledge transfer mechanisms. There have been attempts in India as well, but they remain few and far in-between. Winding down to reimagining life This is not about 'keeping busy'. It's about reclaiming agency, identity, and joy. Roshini Devi Sangwan stepped into a gym at 65. And not to prove a point to anyone else, but to take back control over her body and her life. What began as a simple walk became a deeper journey into strength, self-discipline, and self-worth. Too often, people beyond a certain age are expected to step aside and to fade quietly into the background. But today, Roshini Devi is stronger than many half her age. And the real power of her story lies not just in her physical transformation, but in what it represents: a shift from invisibility to intentional living. Her experience mirrors a broader societal transformation. The traditional Indian joint family structure, once a reliable support system for ageing parents, has evolved significantly. With 70% of urban Indian families now nuclear and approximately 25 lakh Indians emigrating annually, seniors increasingly live independently. Rather than viewing this as social fragmentation, we must recognise it as an opportunity for autonomous ageing, provided adequate support systems exist. Infrastructure gap The challenge is not in seniors' willingness to engage but in society's readiness to accommodate their aspirations. Current urban planning, healthcare delivery, and technology design remain largely age-blind, creating barriers rather than enabling participation. Healthcare infrastructure illustrates this disconnect acutely. While 75% of elderly Indians suffer from one or more chronic diseases, the healthcare system remains oriented toward remedial care rather than preventive wellness. The absence of geriatric specialists (India has fewer than 1,000 certified geriatricians for its ageing population) reflects deeper systemic inadequacies. Digital inclusion presents another frontier. While smartphone adoption among seniors has increased dramatically, the design philosophy of most applications assumes younger users. On mobile apps, even if they are purpose-built for active seniors, font sizes, navigation complexity, and security features often exclude rather than include. This is despite the growing purchasing power and engagement willingness of these active seniors. Policy implications Why we must pay attention extends beyond individual wellbeing to national competitiveness. The second innings generation is full of energy and intent but most institutions, brands, and narratives still treat them through the lens of decline: retirement, risk, and retreat. In many institutional and social conversations, this generation is still viewed through a lens of limitation rather than potential. What they actually need is access and understanding of their specific needs of curated products, social connection, opportunities to discover new skills, content that reflects their ambitions, and communities that validate their experiences. This demographic transition demands comprehensive policy recalibration. The National Policy on Senior Citizens requires updating to reflect contemporary realities. Current social protection schemes, designed for a different demographic context, need restructuring to accommodate longer, more active lifespans. Labour policy presents particular challenges. The concept of fixed retirement ages, inherited from an era of shorter lifespans and different economic structures, may need fundamental revision. Flexible work arrangements, phased retirement options, and age-neutral hiring practices could unlock significant human capital while addressing pension sustainability concerns. Urban planning must incorporate age-friendly design principles. A short wishlist includes accessible public transport, pedestrian infrastructure, healthcare proximity, and social spaces that encourage intergenerational interaction. Cities such as Pune and Chennai have begun pilot programmes, but systematic adoption remains limited. International perspectives Global experiences offer valuable insights. South Korea's 'Active Ageing' policies have successfully increased senior workforce participation while improving health outcomes. Singapore's 'Community Health Assist Scheme' demonstrates how technology can enhance healthcare delivery for ageing populations. These models, adapted to Indian contexts, could accelerate our preparedness. However, India's unique demographic advantage of a large ageing population coinciding with substantial wealth concentration presents opportunities that other economies have not experienced. The challenge lies in converting demographic change from a responsibility into a dividend. Designing for the new life stage Supporting this demographic is not a CSR obligation or a public health checkbox. It's a cultural and economic opportunity. Because what is at stake is not just their well-being, it's our collective future. If India is to be an inclusive, forward-looking society, it must create ecosystems that allow older adults to thrive, not just survive. Realising this potential will require more than policy tweaks; it calls for a mindset shift. We need to see active seniors not as passive beneficiaries, but as engaged contributors to our social, cultural, and economic life. This means designing systems and spaces that reflect their evolving aspirations, and narratives that affirm their agency. Additionally, we need age-tech innovation that prioritises specific products tailored for specific needs, usability over complexity, health intervention models that emphasise prevention over treatment, financial products designed for longer lifespans, and social infrastructure that combats isolation while promoting independence. The path forward Let us rethink ageing as a time of growth, not decline. Let us recognise that the second-innings generation is not slowing down — they are simply choosing new directions. This transformation requires coordinated action across the government, private sector, and civil society. Policy frameworks must evolve, market offerings must adapt, and social attitudes must shift. The demographic dividend that drove India's growth over recent decades is transitioning into a wisdom dividend, provided we prepare adequately. This is not a demographic trend. It's a cultural reset. And it's time we caught up. The silent revolution of India's active seniors represents both challenge and opportunity. How we respond will determine whether ageing becomes a source of national strength or strain. The choice, like the revolution itself, is already under way. Mihir Karkare is the CEO & co-founder of Meru Life; views are personal
Mint
17 minutes ago
- Mint
Penny stock under Re 1 to be in focus on Tuesday; here's why
Penny stock under Re 1: IFL Enterprises on Monday announced that the company's board of directors will meet on Friday, 1 August 2025, to discuss a proposal for a potential 12% stake acquisition in Singapore-based Unique Global Managed Services PTE. Ltd. 'Board of directors of Ahmedabad-based IFL Enterprises Ltd, engaged in the agri commodity business, including import, export and trading of agri commodities, is scheduled to meet on 1 August 2025 to consider and evaluate proposal of Singapore-based Unique Global Managed Services PTE. Ltd to acquire up to 12% Equity Stake through strategic investment route,' the company informed BSE through the filing. The company also said that the proposed investment aims to mark a significant step to strengthen the company's capital base, accelerate growth plans, and enhance shareholder value. According to the exchange filing, four Foreign Portfolio Investors (FPIs) have also acquired a total of 16.08% stake in the company as of 11 July 2025. IFL Enterprises shares closed 4.49% higher at ₹ 0.93 after Monday's stock market session, compared to ₹ 0.89 in the previous stock market session. The company announced the proposal update after the stock market operating hours on 21 July 2025. IFL Enterprises shares have given stock market investors more than 300% returns on their investments in the last five years. However, the shares lost 21.85% in the last one-year period. On a year-to-date (YTD) basis, the shares were down 1.06% in 2025 and are trading 3.12% lower in the last five market sessions on the Indian stock market. The shares hit their 52-week high level at ₹ 1.39 on 22 August 2024, while the 52-week low level was at ₹ 0.56 on 28 March 2025, according to the data collected from the BSE website. The company's market capitalisation (M-Cap) stood at ₹ 115.79 crore as of the stock market close on Monday, 21 July 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
17 minutes ago
- Economic Times
Markets powering big corp engines
Top-tier companies are borrowing more from capital markets , adding to disintermediation of banks that are facing a diversion of household savings away from deposits into equities and debt. There are cyclical and structural factors at play here. Companies have deleveraged heavily and are finding adequate interest from investors for their equity and debt issues. The demand for corporate credit has also slowed on account of a delayed revival in private investment. Capacity addition by industry remains tepid despite GoI's rapid infra buildup. On their part, banks, too, are tapping the markets on the strength of their balance sheets. Yet, deposit growth trails lending to households as fiscal and monetary policy adjusts to prop up consumption. This is restricting banks' access to cheap money that would make their corporate lending competitive.A deepening corporate debt market is a healthy development. It frees up bank credit for small enterprises that would otherwise have been subsidising their big rivals. The strong interest in IPOs of small companies suggests an eventual growth in bank lending to this segment. The harmonisation of the regulatory structure for banks and shadow lenders should push credit demand in the direction of the former. The process aids in strengthening bank lending by reducing concentrated exposure to big borrowers. It also imposes competitive intensity into a system that had worked itself into a bad loan crisis a decade are now doing business differently through improved risk management that will keep them in the reckoning. Banks have entered other areas of finance such as insurance and MFs and are yet to unlock value in their subsidiaries. Companies grow relatively slowly in India, limiting their ability to raise cheaper debt from the capital market. The funnel of small enterprises is widening as larger sections of the economy formalise. Rising incomes will keep credit demand strong from households. Indian banking is in a sweet spot; it must keep adapting to the evolving economic landscape.
