Categories
Economy

AI stake sale: High drama in Parl panel meet over draft report

New Delhi: Most members of a parliamentary panel, made to look into inter alia the issue of Air India’s fate, sought the withdrawal of a draft report opposing the disinvestment of the state-owned airline at a stormy meeting today, prompting some opposition leaders to walk out in protest. Sources, who were present in the meeting, said […]

Categories
Economy

Govt mulls absorbing Air India employees in PSUs

New Delhi: The government is exploring options of absorbing Air India employees in public sector enterprises and voluntary retirement package as it moves ahead with the airline’s disinvestment amid stiff opposition from worker unions, sources said. While foreign direct investment of up to 49 per cent has been allowed in the debt-laden carrier, efforts are on […]

Categories
Economy

Swadeshi Jagaran Manch opposes FDI in Air India

New Delhi: The RSS-affiliated Swadeshi Jagaran Manch today strongly opposed the Centre’s decision to allow 100% FDI under automatic route for single brand retail and foreign investment up to 49% in Air India, saying these decisions are not in “interest of the country”. The Union Cabinet meeting, chaired by Prime Minister Narendra Modi has allowed 100 […]

Categories
Economy

CITU denounces decision to allow 49% FDI in Air India

New Delhi: The Centre of Indian Trade Unions (CITU) today denounced the decision of the government to allow 49% foreign direct investment (FDI) in Air India, and said it was aimed at expediting the privatisation of the national carrier. “The (Narendra) Modi government had already decided to push Air India for wholesale privatisation. And to […]

Categories
Economy

Foreign airlines can own 49% stake in Air India

New Delhi: Foreign airlines can now own up to 49% stake in national carrier Air India, with the Cabinet clearing a proposal in this regard today. The move comes at a time when the government is working on the modalities for strategic disinvestment of the loss- making Air India and is expected to attract more […]

Categories
Economy

Govt to continue with strategic disinvestment of Air India

New Delhi: There is no proposal to reconsider the decision to privatise Air India, which has a debt of Rs 51,890 crore till September this year, the government informed Parliament today. To revive the loss-making national carrier, the government is working on the modalities for its strategic disinvestment. To a question in the Lok Sabha on […]

Categories
Economy

Govt doesn’t want Air India to become defunct: Raju

New Delhi: The government does not want Air India to become defunct like the Kingfisher Airlines, promoted by embattled liquor baron Vijay Mallya, and wants it to serve the nation, Civil Aviation Minister Ashok Gajapathi Raju said today. The government does not want anyone working in Air India to lose job, Raju said in the Lok […]

Categories
India

Pradeep Singh Kharola appointed new Air India CMD

New Delhi: Senior IAS officer Pradeep Singh Kharola has been appointed as the new CMD of disinvestment- bound Air India, the government said today. Kharola would take over as the chairman and managing director of the flagship carrier from Rajiv Bansal, who was given an extension only last week. A 1985-batch Karnataka cadre officer, Kharola would […]

Categories
India

Air India to sell 2 residential properties to SBI, may fetch Rs 50 crore

Delhi: Air India is in advanced discussions with public sector lender SBI for sale of at least two residential properties that could net nearly Rs 50 crore, airline and banking sources said. While the government moves ahead with the process for strategic stake sale, the loss-making airline continues to work on the strategy to divest non-core […]

Categories
Economy

AI seeks $555 mn bridge loan for buying 3 Boeing planes

New Delhi : National carrier Air India is planning to raise USD 555 million by way of bridge loan for the purchase of three Boeing aircraft.The disinvestment-bound Air India would be taking delivery of three B777-300 ER planes early next year. Now, the airline has sought offers “banks/ financial institutions to arrange a bridge financing up […]