Air India s new owner may be allowed to trim fleet size, lay off staff The central government is likely to make it easier for the new owner of Air India (AI) to trim the national carrier’s fleet size by hiving off surplus aircraft lying grounded, even as the aviation sector waits for the pandemic’s vise-like grip to loosen. Since the skies are far from clear, the new owner will also be allowed to lay off employees, given their requirement will shrink with the reduction in the fleet size, said officials in the know.
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The Delhi High Court on Monday refused to restrain Jeff Bezos-led Amazon from interfering in Kishore Biyani-headed Future Retail’s $3.4 billion deal with Mukesh Ambani-owned Reliance Retail by writing to statutory authorities. The order was pronounced by a Single Judge Bench of Justice Mukta Gupta in the suit by Future Retail Ltd after an Emergency Arbitrator of the Singapore International Arbitration Centre (SIAC) restrained Future Group from taking any steps in furtherance of the transaction with Reliance Retail, according to the information available on law platform Bar & Bench. “However, the court passed a neutral observation that the balance of convenience lay both in favour of FRL (Future Retail Ltd) and Amazon and also observed that the statutory authorities were free to form their own opinion as per law,” said Salman Waris, managing partner at technology law firm TechLegis Advocates and Solicitors, after doing an analysis of the development. “The Court opined tha