The EoI and the share purchase agreement would be issued in January itself for the bidders. While Air India's net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore.
'To suddenly give the impression of taking a position that is hostile to Iran, or, at least, not friendly to Iran, is not a good thing.'
The home ministry has given security clearance to Air India CEO-designate Campbell Wilson, paving the way for him to take charge of the airline, according to a senior official. The appointment of Wilson as the chief executive officer and managing director of Air India was announced by Tata Sons on May 12. Tata Sons took over the loss-making carrier on January 27.
Flight AI173 from Delhi was diverted to Magadan in Russia on Tuesday owing to an engine glitch, the Tata Group-owned private carrier said in a statement.
Hindustan Aeronautics Ltd (HAL) expressed deep sorrow over the death of an Indian Air Force pilot, Wing Commander Namansh Syal, in a Tejas aircraft crash during an aerial display at the Dubai Air Show. The incident involved the indigenous Light Combat Aircraft (LCA) Tejas and marked the second crash involving a HAL-manufactured aircraft in 20 months.
Restricting air access to foreign carriers by not granting them more bilateral rights is akin to shooting yourself in the foot, as air transport is a wealth multiplier for India's economy, Emirates President Tim Clark said during a press conference held on the sidelines of the annual general meeting of the International Air Transport Association.
The civil aviation ministry reports six aircraft engine shutdown incidents and three May Day calls in India this year. The Air India plane crash investigation is ongoing, with all aspects being examined.
The Delhi high court on Thursday dismissed BJP leader Subramanian Swamy's plea seeking to set aside the Air India divestment process on the allegation that the methodology adopted by the government in the valuation of the national carrier was "arbitrary, illegal and against public interest". The order was passed by a bench of Chief Justice D N Patel and Justice Jyoti Singh. The court said a detailed order will be uploaded. "Dr. Subramanian Swamy, sir we are dismissing this matter...," the bench said.
Following their T20 World Cup victory, the Indian cricket team, led by Suryakumar Yadav, is setting its sights on future tournaments, including the Olympics and the next T20 World Cup. Senior players like Hardik Pandya express their determination to continue India's dominance in the sport.
No response has been received for the Expression of Interest floated for the strategic divestment of Air India
An Indian national has been killed in Kuwait following Iranian strikes on a power and water desalination plant, bringing the total number of Indian fatalities in the West Asia conflict to eight.
The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over. Besides the debt, the excess liability going to AIAHL comprises unpaid fuel bills to oil companies, airport operators and vendors, said Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management - the department running the privatisation programme of the government.
The International Cricket Council confirmed that stranded players from the South Africa national cricket team and West Indies cricket team have finally left India after Gulf airspace closures during the West Asia conflict disrupted travel following the ICC Men's T20 World Cup.
Civilian flight operations from the 32 airports across northern and western India, including Srinagar and Amritsar, were suspended from May 9 to May 15.
An Indian Air Force Su-30 MKI fighter jet crashed in Assam during a training mission, prompting an immediate search operation for the missing pilots.
The Boeing 787-8 aircraft -- VT-ANB -- was 11.5 years old and had flown for more than 41,000 hours, according to aviation analytics firm Cirium.
Weighed down by surging jet fuel prices, Air-India's net profit plunged by a huge 82.54 per cent at Rs 16.29 crore (Rs 162.9 million) for the year 2005-06.
The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
The policy unveiled by the home ministry is based on seven key pillars to counter the terror threats emanating from India or abroad -- prevention, responses, aggregating internal capacities, human rights and "Rule of Law"-based processes.
The ICC said the South African contingent had begun departing for home on Wednesday with "four players and five family members having boarded the flight".
Government officials say a shareholding structure has been mandated to discourage non-serious bidders from accessing Air India's data room
The Ministry of External Affairs (MEA) has confirmed the deaths of eight Indian nationals and one missing person in West Asia due to the ongoing conflict. The Indian government is providing support to affected families and facilitating the return of citizens from the region.
Russia has expressed strong concern over a US-Israeli strike on the Iranian port of Bandar Anzali, a key transit hub on the INSTC, warning of the risk of drawing Caspian states into the ongoing conflict.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
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.
Air India pilot unions IPG and ICPA on Monday sought Civil Aviation Minister Hardeep Singh Puri's intervention on the wage cut issue and also requested for an "urgent" meeting with him on several other issues. "In our meetings in September, you had given us an assurance to look into our grievances positively. "While other airlines are rolling back the austerity pay cuts for their pilots, the wage cut for Air India pilots further increased from October.
FIDE, the world chess governing body, has rejected calls to move the Candidates Tournament from Cyprus despite security concerns arising from regional conflicts. The tournament is scheduled to begin on March 28.
The pilots have been "derostered" pending investigation, Air India Express later said in a statement.
Shiromani Akali Dal president Sukhbir Singh Badal and Punjab Vidhan Sabha Speaker Kultar Singh Sandhwan have appealed to Prime Minister Narendra Modi to take urgent steps for the evacuation of Indian citizens stuck in countries affected by the recent joint Israel-US attack on Iran.
IndiGo, which operates the largest fleet among Indian carriers, has reported the highest number of serious engine-related incidents.
Virtually addressing employees of Air India across the globe, he said for the airline to be the best again there will be an organisational redesign, and it will "require a huge transformation, probably the largest transformation and the change all of you would ever go through". The carrier will expand its "outreach both domestically and internationally" and it has the desire to connect India with every part of the globe, he added.
National carrier Air India's strategy to cut full-service flights and replace them with low-cost services by Air India Express on its West Asian routes has backfired. The passenger load factor of the flag carrier's low-cost subsidiary for West Asia has fallen a steep 11 percentage points over the last six months as a result of competition from new low-cost entrants and fare wars by incumbents. The PLF on the Dubai-India route fell from 83 to 78 per cent in the same period.
The Cabinet Committee on Security (CCS) has reviewed the evolving situation in West Asia, directing departments to assist Indian nationals affected by recent developments and emphasizing the need for dialogue and diplomacy.
An Air India pilots' grouping has raised fatigue concerns in the wake of flight crew rosters generated using a new rostering tool, saying that extended waiting periods between duty time will jeopardise crew alertness and performance. "Extended waiting periods, occurring before active flight duties, run counter to enhancing crew readiness and, in fact, contribute to the accumulation of fatigue over time," the Indian Pilots Guild (IPG) has said. In a letter to Air India head of safety Henry Donohoe last week, IPG said it has been recently observed that the relentless pursuit of operational efficiency and economic gains has led to an unintended overshadowing of the primary intent behind Flight Duty Time Limitations (FDTL) regulations.
With over 700,000 annual passengers and 21 per cent market share Air India is the largest carrier on India-United Kingdom routes.
Air India buyer has to take over interest-bearing debt of Rs 16,500 crore a large portion of which is aircraft related, meaning they are backed by aircraft value
Indian badminton star PV Sindhu and her coach were stranded at Dubai International Airport following an explosion near their location, triggered by escalating tensions in the Gulf region.
Developed to meet the growing transportation needs of modern India, the fully AC Vande Bharat sleeper train would offer passengers an "airline-like travel experience at economical fares," a statement issued by the PMO stated.
