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Stock impact report

Air India Dealt Blow as Aircraft Technicians Plan Strike [BNN Bloomberg (Canada)]

SINGAPORE AIRLNS UNSP/ADR (SINGY) 
Company Research Source: BNN Bloomberg
Technicians at AI Engineering Services Ltd. — a state-run maintenance, repair and overhaul firm and an erstwhile Air India unit — will strike on April 23 due to various issues affecting their “well-being” and “professional growth,” All India Aircraft Maintenance Engineering Union wrote in a letter dated April 8 to the chief executive officer. A representative for Air India said the situation is being monitored closely. The unrest among aviation workers risks thwarting India's air travel boom. Pilots and aircraft engineers are crucial to support the country's rapid fleet expansion after IndiGo, Air India and Akasa placed orders for more than 1,100 aircraft combined. The strike will further roil India's aviation industry that saw hundreds of flight cancellations last week after some pilots at Vistara, jointly owned by Air India's owner Tata Group and Singapore Airlines Ltd., called in sick en masse due to fatigue and pay cuts. The airline is cutting back 25 to 30 flights a day to Show less Read more
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