IA’s insurance premium likely to jump 50%

New Delhi: The insurance premium for Indian Airlines is likely to increase significantly to about Rs 150 crore from the current Rs 100 crore when it is taken up for renewal next month.
The four state-owned general insurance companies — Oriental Insurance, National Insurance, New India Assurance and United India Insurance — are once again set to jointly bid for the account .
The national domestic carrier, which placed an order for 43 new Airbus aircraft at a cost of $2 billion, will be acquiring their first new aircraft in October. The remaining 42 will be delivered over a period of 4 years. The airline’s current fleet 72 aircraft is strong.
When contacted, Indian Airlines officials said the insurance deal is being worked out. “Nothing is final as yet. We are in the process of finalising the deal,” an official said.
07/09/06 Mahua Venkatesh & Atreyee Dev Roy/Financial Express

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