Latest news with #AI-171Trust
Time of India
19-07-2025
- Business
- Time of India
Tata Sons sets up Rs 500 crore trust for victims' families
File photo MUMBAI: Tata Sons has formed a Rs 500 crore public charitable trust to aid families impacted by the Air India 171 crash in Ahmedabad. It will contribute Rs 250 crore to the AI-171 Memorial and Welfare Trust, while its primary shareholder, Tata Trusts, will match this with Rs 250 crore. This is one of the largest relief efforts by the House of Tatas. In 2020, the Tatas contributed Rs 1,500 crore for Covid-19 relief, with Tata Trusts providing Rs 500 crore. In 2008, Indian Hotels (Taj chain) had established a trust to support affected victims and families of the 26/11 Mumbai terror attacks. The AI-171 Trust, registered in Mumbai, will be administered by five trustees including Tata Chemicals chairman S Padmanabhan and Tata Sons' general counsel Sidharth Sharma. Three additional trustees remain to be appointed. However, none of the Tata Trusts trustees will be part of the AI-171 Trust board. The airplane crash on June 12 claimed over 250 lives. Tata Sons promptly announced Rs 1 crore compensation for each deceased victim's family. This amount will be disbursed through the AI-171 Trust. The Trust will also cover medical treatment for the injured and reconstruction costs for the BJ Medical College hostel. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Indian Express
18-07-2025
- Business
- Indian Express
Tata Sons sets up RS 500 crore AI-171 Memorial Trust for Air India crash victims
Tata Sons has formally set up a public charitable trust — The AI-171 Memorial and Welfare Trust — to support the victims and families affected by the tragic Air India AI-171 Dreamliner crash in Ahmedabad. The group has pledged a total of Rs 500 crore towards the trust, with Tata Sons and Tata Trusts, headed by Noel Tata, contributing Rs 250 crore each. The trust will provide financial and rehabilitation support, including a Rs 1 crore ex-gratia payment to the families of the deceased, medical assistance to those seriously injured, and aid for rebuilding the B.J. Medical College hostel, which was damaged during the crash. The horrific incident, which occurred on June 12, claimed the lives of 241 out of the 242 passengers on board, as well as several individuals on the ground. 'The Trust will be funded and will commence its work in all earnestness after necessary registration with the tax authorities and other operational formalities, currently underway, are completed,' it said in a statement. The Trust will provide both immediate and continuing support to the dependents/next-of-kin of the deceased, to those who were injured, and to all others who are directly or collaterally affected by the accident. Importantly, the trust will also extend support to first responders, medical teams, disaster relief workers, and government personnel who played key roles in the rescue and recovery operations following the crash. This includes assistance to address trauma, mental health challenges, and other distress these individuals may have experienced in the course of their service. The AI-171 Trust has been formally registered in Mumbai and will be governed by a five-member board. The first two trustees named are S. Padmanabhan, a long-serving Tata Group veteran, and Sidharth Sharma, General Counsel at Tata Sons. The remaining trustees will be appointed shortly. Commenting shortly after the tragedy, Tata Sons Chairman N. Chandrasekaran, who also chairs Air India, had spoken of the need for long-term care beyond financial help. 'There are structures we want to put in place. One of the things we've been thinking about is creating a trust — something sustainable that can support affected families,' he said. Meanwhile, Air India CEO Campbell Wilson has stated that the preliminary findings into the AI-171 crash have opened up more questions than answers, indicating that the investigation remains ongoing and complex. The AI-171 Trust represents a significant and compassionate effort by the Tata Group to support recovery and rebuild lives after one of India's worst aviation disasters.
India Today
20-06-2025
- Business
- India Today
Soul of every journey: Air India pays tribute to members lost in Ahmedabad crash
In an earnest homage, Air India remembered its ten crew members who died in the Air India flight AI 171 crash on June 12. Air India posted a message on its official handle on social media platform X: 'With hearts full of sorrow, we remember the cabin crew members we lost - beloved colleagues, cherished friends, and the soul of every journey they were a part of.'advertisementThe condolence statement was issued by Air India and the Tata Group eight days after the tragedy that claimed 274 lives. On June 12, an Air India Boeing 787 Dreamliner bound for London, carrying 242 people, crashed into a medical college hostel just moments after taking off from Ahmedabad airport at approximately 1:35 'they were family', the messaged remembered the cabin crew members: Aparna Amol Mahadik, Shradha Mahadev Dhavan, Deepak Balasaheb Pathak, Irfan Samir Shaikh, Lamnunthem Singson, Maithili Patil, Kongbrailatpam Nganthoi Sharma, Saineeta Abin Chakravarti, Manisha Thapa, and Roshni Rajendra Songhare. 'You flew with compassion. You will be remembered with love,' the message read after naming each of the 10 deceased staff Group and Air India mourned the loss of its cabin crew members and honoured the crew's personal and professional contributions. The statement on its social media handle X comes a day after N Chandrasekaran, Chairman of Tata Sons and Air India, said he deeply regretted the accident. 'It is an extremely difficult situation where I have no words to express to console any of the families of those who died. I deeply regret that this accident happened in a Tata-run airline. And I feel very sorry,' he also announced plans to create an 'AI-171 Trust' to provide long-term support, including financial and other needs, to the affected families.A day after the crash, Chandrasekharan in a letter to Tata Group employees called June 12 'one of the darkest days in the group's history.''What occurred yesterday was inexplicable... to lose so many at once is incomprehensible,' he the aftermath of one of the deadliest air disasters India has seen, Air India will cut wide-body international flights by 15 per cent until mid-July due to stricter DGCA checks and Iranian airspace closures. Meanwhile, the aviation ministry has set a 60-day deadline for owners to report illegal structures near airports before demolition.
