Page 85 - Air India

Air India disinvestment: Union moves Madras HC on employees' welfare

The court, in interim relief to the petitioner, restrained the Ministry and other authorities concerned from evicting the members of the Air Corporation Employees' Union in Meenambakkam

Govt seeks Parliament nod for Rs 3.73 trn additional spending this fiscal

The government on Friday sought Parliament's nod for gross additional spending of over Rs 3.73 lakh crore in the current financial year. As per the second batch of supplementary demands for grants tabled in Lok Sabha by Minister of State for Finance Pankaj Chaudhary, the net cash outgo would be over Rs 2.99 lakh crore and Rs 74,517 crore extra expenditure would be matched by savings by different ministries. The amount includes extra spending of Rs 58,430 crore towards fertiliser subsidy, over Rs 2,000 crore towards various schemes of Department of Commerce and over Rs 53,000 crore by Department of Expenditure under various export promotion schemes.

With Air India, Tatas get a stake in Kerala's Cochin airport

The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers

Air India pilots warn of industrial action if pay cut not restored

The unions, which have been pressing for restoration of salary cuts, have cited resumption of scheduled international flights and rollback of pay cuts by other airlines to justify their demand.

The tale of two airlines

The pandemic may have willy-nilly created an opportunity to correct the anomalies of the past

Air India board to meet on Monday to finalise prepayment of Rs 12k-cr debt

Loans were raised by the airline as NCDs at 9.05-10.05% interest rate, will be prepaid as part of govt's sale of airline to Tatas

'Govt making all efforts to complete AI disinvestment process by Dec-end'

The government is making all efforts to complete the disinvestment process of national carrier Air India by the end of December, according to a senior official. Tata group firm Talace Pvt Ltd has emerged as the winning bidder for loss-making Air India. On October 25, the government signed the share purchase agreement with Tata Sons for the sale of the airline for Rs 18,000 crore. The amount includes payment of Rs 2,700 crore in cash and take over Rs 15,300 crore of the carrier's debt. Along with Air India, Tatas will acquire low-cost carrier Air India Express and Air India's 50 per cent stake in equal joint venture AISATS. On Wednesday, Civil Aviation Secretary Rajiv Bansal said all efforts are being made to complete the disinvestment process of Air India by the end of December. Bansal is also the Chairman and Managing Director of the national carrier. Air India has been incurring a monthly loss of more than Rs 600 crore, he noted. The airline has 43 wide-body planes, including 2

Delhi HC upholds AI's passenger service system tender award to Amadeus

Amadeus won the contract; rival Sabre had moved court challenging favouritism in tender process

Three Air India employees arrested for helping gold smugglers: Officials

Three employees of Air India, accused of having a role in the smuggling of gold, have been arrested, officials said on Friday

Tata Sons working on merging AirAsia India and Air India Express: Report

Tata owns 84 per cent stake in AirAsia India, allowing it to create a single airline entity quickly.

Air India sale, Tatas' EV arm keep deal street busy with $9.2 bn fund flows

The Air India sale to the Tatas has helped the deal street sizzle in October which in total saw 221 deals worth USD 9.2 billion -- 24 per cent more than the money changed hands in the same month in 2020, according to an industry report. According to Grant Thornton dealtracker report on Monday, October was encouraging, both in terms of deal volume and deal value, indicating the continuum in deal activities. While volume jumped two times over October 2020, in value terms it grew 24 per cent. In October, 61 mergers and acquisitions worth USD 3.3 billion were announced of which as much as USD 2.4 billion were the Tatas paying the government for the national carrier Air India, and 160 private equity deals worth USD 5.9 billion, which was 62 per cent more than the year ago period, according to the data collated by the agency. With 61 deals, M&As were the highest since 2015, up 62 per cent in volumes and 25 per cent in value. The month also witnessed the birth of five new unicorns: ...

Pilots seek settlement of outstanding dues pre-handover of Air India

The Indian Pilots Guild (IPG) has written to the Chairman and Managing Director of Air India for settling all outstanding dues with employees pre hand-over.

Best of BS Opinion: After selling the Maharajah, Inflation conundrum & more

Here is the best of Business Standard's opinion pieces for Wednesday

After selling the Maharajah

Privatisation of Air India should lead to a downsizing of the aviation ministry and other regulatory reforms

Top Headlines: India to reach net zero by 2070, ex-SBI chairman arrested

Business Standard brings you the top headlines at this hour

Ministries, PSUs, govt depts owe more than Rs 600 crore to Air India

Airline is owed Rs 1,500 crore for tickets: mainly for flying VVIPs, ministers, foreign dignitaries and evacuation operations.

Clear Air India dues, buy tickets in cash: FinMin tells ministries

The government on Monday signed a share-purchase agreement with Tata Sons for the sale of the national carrier for Rs 18,000 crore

Govt asks ministries to clear Air India dues, make payments for tickets

It also directed the ministries/departments to alert its subordinate offices/institutes under its administrative control for compliance to this office order

Govt signs share purchase agreement with Tatas for Air India sale

After signing the deal, Conditions Precedent (CP), which includes terms and conditions, will be completed in eight weeks, as per the plan shared by govt

Top headlines: Airtel accepts 4-year moratorium; IPL gets 2 more teams

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