Mumbai : The soon to be launched airline Vistara, from the Tata Group-Singapore Airlines combine, has secured its insurance cover from the country’s largest non-life insurer New India Assurance, for Rs 5 crore.
“We have provided insurance cover to both the aircraft of Vistara. We are hopeful of providing cover to three more planes the airline is likely to bring in by next March,” a New India Assurance official told PTI.
The premium amount fixed for providing the insurance cover to the five aircraft is Rs 5 crore. The insurance cover per plane under the hull segment is USD 100 million, whereas it will be up to USD 350 million under the liability segment.
Full service airline Vistara, which is a 51:49 joint venture between the Tata Group and Singapore Airlines, is likely to launch operations this month or early next month.