Salome Singsit, 39, approached the apex court challenging the decision of Airline Allied Services Ltd, a subsidiary of Air India, alleging that the airline had arbitrarily refused to renew her contract.
The government will start working on selling the ground-handling arm of erstwhile national carrier Air India and the Expression of Interest (EoI) is expected in the next fiscal, an official said. "We already have the Cabinet approval for selling the subsidiaries of Air India. "So we will come out with an EoI inviting bids for one of the ground-handling arms in the next fiscal," an official told PTI.
Aviation regulator DGCA plans to implement measures to control excessive air ticket price increases, following concerns raised during a parliamentary panel meeting. The meeting also addressed air safety issues in light of the Ahmedabad plane crash.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
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.
Air India has planned to monetise its unutilised and surplus immovable real estate assets over the next few years.
After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake.
According to the bid document, as part of the strategic disinvestment Air India would also sell 100 per cent stake in low cost airline Air India Express and 50 per cent shareholding in joint venture AISATS. The management control of the airline would also be transferred to the successful bidder.
SpiceJet, IndiGo, Jet Airways, Alliance Air, and Turbo Aviation are among the operators that have bagged the routes in the third round.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
The man who led this journey is 50-year-old Kalanithi Maran, chairman and managing director of the Sun Group.
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