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The Economic Times

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Govt offers Air India with loan against aircraft of Rs 23,286 crore

The government is offering 100% of the airline, while reducing the debt of the company to Rs 23,286 crore.

Centre rolls out Air India's disinvestment process, seeks Expression of Interest

Union Civil Aviation Minister Hardeep Singh Puri on Monday s...

Air India privatisation: Employee unions to meet in Delhi

Various Air India employee unions will meet here on Monday to discuss proposed priv...

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  • Generally, access to all data records and draft share purchase agreement (SPA) are provided to bidders put in their interest after the preliminary information memorandum stage. The govt on Monday came out with the PIM for 100% disinvestment of debt-laden Air India as well as sale of Air India Express and 50% shareholding in equal joint venture AISATS.

    The observations by the bench came while declining to entertain a plea challenging the notification providing free travel for women on buses operated by the Delhi Transport Corporation (DTC) in the national capital. The petition contended that the scheme and the regulation were contrary to the Motor Vehicle Act and impermissible under the Constitution.

    The government has published a memorandum on preliminary information for 100% stake sale of national carrier Air India whereby the management control of the airline would also be transferred to the successful bidder. The government has set March 17 as the deadline for submitting the Expression of Interest.

    While speaking to ANI in Delhi on Monday, Congress leader Kapil Sibal on Air India’s disinvestment said that this is what the government wil...

    The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July 2019 after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company. In the wake of the feud, arbitration proceedings are also going overseas between the two promoters' sides.

    The government, which did not receive a single bid in its maiden attempt to sell Air India last year, is being cautious this time and has offered various relaxations, such as a 100% in the airline, substantial restructuring of debt and liabilities and allowing the new owner to offer voluntary retirement to staff.

    In view of the increase in passenger traffic on the Tel Aviv-New Delhi sector, India's official carrier Air India will double the number of flights on the route to six per week from April.

    Local Afghan officials had said earlier on Monday that a passenger plane from Afghanistan's Ariana Airlines had crashed in the Taliban-held area of the eastern Ghazni province. However, Ariana Airlines told The Associated Press that none of its planes had crashed in Afghanistan. The conflicting accounts could not immediately be reconciled.

    "Tourism Ministry will fund the travel expenses of tourists who visit 15 destinations in the country in a year and submit the photos to our website," Union Minister Prahlad Singh Patel said.

    On February 27, 2019, an Mi17 helicopter crashed in Budgam in which six personnel onboard were killed. This happened during heightened tension between India and Pakistan. The incident took place in the fog of war or what is often called blue on blue in military parlance a day after the Indian Air Force hit terror camps in Pakistan. As the Pakistan Air Force retaliated, there was an aerial dogfight.

    "The aircraft has since been changed and departed with the passengers for its estination at 1044 hours. GoAir regrets the inconvenience caused to its passengers," the spokesperson added.

    Delta Air Lines was on Friday fined USD 50,000 by the US Department of Transportation to settle allegations it discriminated against three Muslim passengers who were ordered off their planes.

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