Mumbai: In a significant gesture of corporate compassion, Tata Sons and Tata Trusts on Friday announced the formation of a ₹500 crore AI-171 Memorial and Welfare Trust to provide long-term support to the families of the victims of the tragic Air India Flight AI-171 crash in Ahmedabad.
The trust has been formally registered in Mumbai, and both Tata Sons and Tata Trusts have pledged to contribute ₹250 crore each.
The announcement comes a little over a month after the catastrophic crash that resulted in the deaths of 260 people, making it one of the deadliest air disasters in Indian aviation history.
As part of its immediate relief, the trust will provide an ex gratia payment of ₹1 crore to the family of each deceased passenger. Beyond this, the trust will undertake various philanthropic initiatives aimed at education, health, and welfare of dependents of the victims, Tata Group officials said.
While the cause of the crash remains under investigation by the Directorate General of Civil Aviation (DGCA), this move by Tata, which owns Air India, is seen as a strong reaffirmation of its commitment to social responsibility and humanitarian support in times of tragedy.