Tata Sons, the holding company of Air India, on July 18 announced the formation of a public charitable trust to honor and support the victims of the Air India flight AI-171 crash that occurred in Ahmedabad last month.
Established in partnership with Tata Trusts, the US $59.9 million (₹500 crores) AI-171 Memorial and Welfare Trust aims to provide comprehensive and sustained support to the families of the deceased, individuals injured in the incident, and others directly or indirectly affected.
Also read: Air India begins interim payouts to crash victims’ families
Additionally, it will extend aid to first responders, medical personnel, disaster relief professionals, social workers, and government staff who played a crucial role in the rescue and relief operations following the tragedy.
The fund will be utilized for multiple welfare objectives including ex-gratia payments of US $116,200 (₹1 crore) to the families of the deceased, medical treatment for those critically injured, and reconstruction support for the B.J. Medical College Hostel, which suffered structural damage during the incident.
The Trust will be overseen by a five-member board of trustees. The first two appointees to the board are S. Padmanabhan, a veteran of the Tata group, and Sidharth Sharma, general counsel at Tata Sons. The remaining trustees will be appointed in due course.
While the Trust has been formally constituted, it will commence operations following requisite registrations with tax authorities and the completion of other regulatory formalities.
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