India-Europe Flight Network: Air India and the Lufthansa Group recently signed a Memorandum of Understanding (MoU) to form a joint business partnership. The agreement establishes a framework for cooperation between Air India, its subsidiaries such as Air India Express, and Lufthansa Group carriers, including Austrian Airlines, Brussels Airlines, ITA Airways, Lufthansa, and SWISS.

Through this partnership, the two companies aim to enhance flight connections and travel experiences between India and Europe on a single ticket. The move follows the recent completion of the India-European Union Free Trade Agreement. The airlines plan to collaborate on route planning, flight schedules, and marketing to make travel more convenient. They also intend to coordinate frequent flyer programs and IT systems.

Carsten Spohr, Chairman and CEO of the Lufthansa Group, said the agreement marks a new phase in aviation between the two regions. He stated, “Together with Air India, we will strengthen our access to the aviation market with the highest growth rates worldwide.”

Air India, in a statement, said it is expanding its fleet and services following its privatisation in 2022. The airline views this cooperation as a way to support growing trade and travel ties. Campbell Wilson, CEO and Managing Director of Air India, noted that the framework allows both companies to explore closer cooperation on multiple levels. He said, “This would unlock greater value for our common customers and respective shareholders, and we look forward to progressing these initiatives together with the Lufthansa Group.”

The two airline groups already collaborate through the Star Alliance and existing codeshare agreements. Currently, they operate 145 routes connecting 15 cities in India with 29 cities in Europe. The new agreement will initially focus on traffic between India and the Lufthansa Group’s home markets of Germany, Austria, Belgium, Italy, and Switzerland, with plans to expand to the rest of Europe and the Indian subcontinent later.

Economic data shows that the EU is India’s largest trading partner for goods, with bilateral trade exceeding 120 billion euros in 2024. Together, India and the European Union represent nearly 25 percent of global Gross Domestic Product. The airlines believe that improved aviation links will further strengthen these economic relations. Final details of the partnership, including specific routes, will be announced after the companies obtain the necessary regulatory and anti-trust approvals. 

Last Updated:February 17, 2026, 18:16 IST

Under Section 80C, investors can claim a tax deduction of up to Rs 1.5 lakh in a financial year by investing in a tax-saving FD

One of the key conditions attached to this investment is the mandatory lock-in period of 5 years. (representative image)

A tax-saving fixed deposit (FD) continues to be a popular investment option for individuals seeking a safe avenue to grow their money while reducing their tax burden. The scheme offers dual benefits, capital protection along with tax deductions under the Income Tax Act.

Under Section 80C, investors can claim a tax deduction of up to Rs 1.5 lakh in a financial year by investing in a tax-saving FD. In addition to the tax benefit, these deposits currently offer interest rates of up to around 7%, making them an attractive choice for those looking for stable and assured returns without exposure to market risks.

However, the tax advantage applies only to those who file their income tax returns under the old tax regime. Individuals opting for the new tax regime cannot claim deductions under Section 80C for investments made in tax-saving FDs. Financial planners advise investors to assess their tax planning strategy before committing funds.

One of the key conditions attached to this investment is the mandatory lock-in period of 5 years. During this period, the deposited amount cannot be withdrawn. The restriction is often viewed as a discipline-enforcing feature for long-term savers.

Premature withdrawal is not permitted; if the deposit is broken before completing 5 years, the investor may face penalties and will also lose the tax benefits. The withdrawn amount would then be treated as income in that financial year and taxed accordingly.

Tax-saving FDs also do not offer loan or overdraft facilities against the deposit. In case the account holder passes away, the nominee is allowed to withdraw the amount before maturity.

While the principal investment qualifies for tax deduction, the interest earned is not fully tax-free. If the annual interest exceeds Rs 40,000 or Rs 1 lakh in the case of senior citizens, banks deduct tax at source (TDS) at the time of payment. Despite this, the scheme remains appealing to conservative investors because it guarantees returns at maturity and shields savings from market volatility.

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