Page 86 - Air India

Govt signs share purchase agreement with Tata Sons for Rs 18,000-cr AI deal

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

BPCL privatisation faces bigger obstacles than Air India sale. Here's why

BPCL privatisation faces bigger obstacles than Air India sale. Here's why

AirAsia India expected to soon get international flying permit

With AirAsia India getting close to obtaining international flying rights, conglomerate Tata Sons, will in the near future, have four airlines with permits for overseas operations.

Air India divestment will re-energise civil aviation sector, says PM Modi

The prime minister said that Covid vaccinations will inspire confidence among foreign tourists

Challenges abound as Tata draws up a flight plan for Air India

Industry executives warn any success will be a long and complicated process that could cost Tata Sons more than $1 bn

Govt paying Rs 20 cr daily on Air India, wants quick handover: DIPAM Secy

Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM Secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI. Earlier this month, the government had accept

What will be the task ahead for Tatas to get Air India soaring again?

Air India has returned to the Tatas' stable after 68 years. But, that's just the first step. Let's delve into the long flight to stability that the airline and the group will have to chart

Sale of Air India will constitute an 'important milestone': IMF official

The International Monetary Fund on Monday said the sale of national carrier Air India will constitute an "important milestone" in India's privatisation efforts. Tata group has emerged as the winning bidder for the loss-making Air India, and on October 11, a letter of intent (LoI) was issued to the group. "We welcome the recent agreement on the sale of Air India, which constitutes an important milestone," Alfred Schipke, Director of IMF-STI Regional Training Institute and a former IMF India Mission Chief, told PTI in an interview. Earlier this month, the government accepted an offer by Talace Pvt Ltd, a unit of Tata group, to pay Rs 2,700 crore cash and takeover Rs 15,300 crore of Air India's debt. After Tatas accept the LoI, the share purchase agreement (SPA) for the sale will be signed. 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. "In general, to maximise the benefits from privatisatio

TMS, Ep 22: Task for Tatas, Nirmal Jain Q&A, and Thrasio-style startups

What will the Tatas have to do to get Air India soaring again? How does IIFL's Nirmal Jain see retail investors' growing interest in equity markets? What are Thrasio-style startups? All answers here

Procurement of expensive plane parts after senior official's nod: Air India

The airline in an order stated that if the repair of aircraft parts is going to cost more than Rs 10 lakh, it has to be first approved by the Executive Director Engineering

Top headlines: PNB Housing drops stake sale plan; Air India reports losses

Air India's revenue from operations dropped at Rs 10,343 core in FY21 from Rs 27,711 crore year ago. More on that story in out top headlines.

Air India's disinvestment likely to complete within the next 10 weeks: Govt

Bansal, who also holds the charge of Chairman and Managing Director of Air India, in an order said airline's disinvestment process is in its final stages and letter to intent has been already issued

Divestment-bound Air India reports Rs 7,017 crore loss for FY21

The loss after tax stood at Rs 7,017 crore in the year through 31 March 2021, down from a Rs 7,766 core loss recorded in the previous year

After Air India privatisation, aviation set to be 2nd most concentrated mkt

The top two players will control 80% of industry revenue

Top headlines: Coal supply at 5-year low; Zee and Invesco continue fight

The reason for the coal crisis and Air India's many challenges: Business Standard explains in top headlines on Thursday.

Air India's flight plan: What it would take to get airline soaring again

Aviation experts reckon this could entail a bill of around $40 million for 100 aircraft

Air India under Tata Group will be real challenge: IndiGo CEO Ronojoy Dutta

Dutta said Air India will be a formidable force under the Tata Group and IndiGo does not take it lightly at all

Air India unions threaten strike from November 2 to retain staff quarters

The unions said employees have been asked to give an undertaking by October 15 that they would vacate the staff quarters

Air India sale: The pangs ahead of the eventual deal with the Tata group

A revamped Alternative Mechanism, the option of closing down the airline and removal of aviation ministry helped seal a deal that had found no takers for years

Tata Group airlines to be top on 10 busiest routes, shows data

On the top 100 routes in terms of departures, Tata Group is ahead of its chief rival IndiGo on 30 of them