New Delhi, Aug. 3:
The Government has given its nod to Air India to
take delivery of the Boeing 787 aircraft.
An official statement issued after a meeting of
the Cabinet Committee on Economic Affairs states that the airline be allowed to
take delivery of the 27 Boeing 787 aircraft after signing the delay
compensation settlement agreement with the manufacturer.
The meeting also decided that the issue relating
to compensation for failure to meet performance guarantee be “delinked” from
the delayed compensation settlement agreement. This will be negotiated
separately by an Empowered Group of Officers. The Ministry of Law and Justice
would examine and endorse the enabling legal provisions/aspects of the
negotiations.
Sources indicated that at the moment Air India
will only receive compensation for the over four-year delay in delivery of the
aircraft. Sources also said that this is not the first time that an agreement
for compensation for failure to meet performance guarantee has been reached
between the Air India and an aircraft manufacturer.
“The performance compensation cannot be decided
in advance. The performance can only be measured when the aircraft joins the
fleet and more than one aircraft has flown on several routes for a period of
time,” an aviation analyst said.
A final time schedule for Air India to start
taking delivery of the aircraft is likely to emerge by Monday. “Air India will
have to tie-up final financing with banks and have it released before the
airline gets the aircraft. It will also have to physically transport crew to
the US to take delivery,” a senior official said.
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