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.
Jaitley did not say if it will be an outright sale or partial divestment.
The foremost lesson for India today is to beef up its air defence to cater for multiple drone attacks. As seen in Operation Sindoor, we have come a long way, but there's room for getting better. We must develop a robust and almost impregnable air cover over ourselves, asserts IAF veteran Air Commodore Nitin Sathe (retd).
Can Imperial Japan be forgiven for what it did to Indian soldiers it was supposed to protect as PoWs?
More than 300 flights have been cancelled and at least 25 airports, including Srinagar, have been temporarily shut for operations amid restrictions in the wake of the armed forces launching missile attacks on terror targets in Pakistan on Wednesday morning.
Besides, the carrier is having a technical stop in Kolkata for some of the North America flights from Delhi, they added.
Air India on Monday said it has introduced refreshed inflight food and beverages menus across cabins on all international flights. "The refresh of the menus is based on guest feedback and is designed to offer travellers an assortment of gourmet meals, trendy appetizers, decadent desserts, and showcase India's locally sourced culinary influence while keeping in line with the healthy eating trend," the airline said in a release.
From drone-lit skies and gemstone rangolis to fragrance journeys and theatrical thalis, India's new-age festive events blend heritage with high-tech spectacle to create memories that feel both intimate and unforgettable.
Elavenil Valarivan strikes 10m air rifle gold; juniors continue dominance
The three state-owned oil companies have decided to defer snapping fuel supplies to Air India. The airline owes the three firms over Rs 5,000 crore in past fuel bills.
India and China have announced a series of measures aimed at improving their relationship, including maintaining peace along the border, reopening border trade, and resuming direct flights.
Aviation regulator Directorate General of Civil Aviation (DGCA) on Monday said it has issued a show cause notice to Air India regarding two incidents of passenger misbehaviour onboard a flight from Paris to New Delhi last month.
Air India will purchase 220 planes from Boeing for $34 billion, with an option to buy 70 more aircraft that could take the total transaction value to $45.9 billion, a deal that US President Joe Biden described as a "historic agreement". While announcing the Boeing-Air India deal on Tuesday, Biden also asserted that together with Prime Minister Narendra Modi, he was looking forward to deepen the ties between India and the US. As per an announcement from the White House, Boeing and Air India have reached an agreement under which the airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm order valued at $34 billion at list price.
An analysis of the upcoming Bihar elections, focusing on the key players, alliances, and issues that will shape the outcome. The article examines the strength of the ruling NDA coalition led by Nitish Kumar and the challenge posed by the RJD-led Mahagathbandhan, as well as the potential impact of Prashant Kishor's Jan Suraaj Party.
China showcased its latest military hardware, including hypersonic and ballistic missiles, during a parade commemorating the 80th anniversary of its victory against Japanese aggression in World War II. President Xi Jinping called for world peace and national rejuvenation.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
An unbeaten half-century by Deepti Sharma guided India to a four-wicket win over England in the first Women's ODI in Southampton on Wednesday.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
Aviation watchdog Directorate General of Civil Aviation (DGCA) on Tuesday said surveillance conducted at major airports revealed several defects in the aviation ecosystem, including multiple cases wherein the defects reappeared on aircraft and centre line marking faded on runway.
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 Human-rated LVM3 vehicle, the Crew Escape System and the Crew Module and Service Module are all in final stages of testing and integration.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
The appliance makers expect a good churn in the festive season, led by the government's proposal to reduce the GST slab on air-conditioners from the current 28 per cent to 18 per cent, which will reduce the price from Rs 1,500 to Rs 2,500 depending on the models.
Enormous debt isn't the only thing afflicting Air India. Its work culture is an equal culprit in its downfall.
When the Tatas re-boarded Air India on January 27 last year, the price of aviation turbine fuel was at over Rs 80,000 per kilolitre. Rupee was trading at around Rs 74 to a US dollar. The Omicron variant of Covid-19 was in prevalence - barely a week earlier, India had reported over 340,000 cases on a single day. Seven-day home quarantine of international travellers was the norm.
Tech tycoon Azim Premji's global investment arm, Manipal Group Chief Ranjan Pai's family office and 360 ONE Asset have sought approval from fair trade regulator CCI to acquire stakes in domestic carrier Akasa Air's parent company SNV Aviation. "The proposed transaction involves the acquisition of certain shareholding by each of PIOF, Claypond and 360 Fund (through its various schemes and affiliates) in Akasa Air," said a notice filed with the Competition Commission of India (CCI) on Wednesday.
The government has initiated the process for inviting financial bids for the sale of national carrier Air India and the deal is likely to conclude by September, sources said. Salt-to-software conglomerate Tata Group was among the "multiple" entities that had put in preliminary bids for buying loss-making Air India in December last year. The sources said that after analysing the preliminary bids, eligible bidders were given access to the Virtual Data Room (VDR) of Air India, following which investors' queries were answered.
The Ahmedabad air tragedy, which claimed the lives of all but one of the 242 passengers and crew on board, and several others on the ground, has left deep scars on BJMC's residential quarters and the psyche of the survivors.
The state-run carrier Air India will on June 21 show a film on yoga across its flights, along with a special in-flight announcement.
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
'The E20 usage accrues the huge benefit to the nation, to the society, to the farmer, to the environment, to the exchequer and all of us'
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
A probe into e-mails threatening blasts at Narendra Modi Stadium in Ahmedabad and different places in 12 states has unravelled a tale of unrequited love and vengeance allegedly unleashed by a woman executive of an MNC in Chennai to defame a man, leading to her arrest.
Warning the employees of 'firm' action if flights were disrupted and passengers inconvenienced, the staff notice issued by Air India said the agitation by the Joint Action Forum would violate the Industrial Disputes Act and was 'tantamount to illegal strike. All employees are aware that the company is going through a critical financial situation and, at this stage, any disruption to flights will adversely affect the image of the company.'
The bilingual -- Hindi and English -- invitation cards for I-Day anniversary celebrations carry this image on the top right corner of the invite, while the silhouetted image of the Chenab bridge, the world's tallest railway arch bridge, sits at the lower side of the cards, which have largely being issued online via 'Aamantran' website of the Ministry of Defence.
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
This isn't just a home for the elderly. It's a place where life stories, generations, and cultures weave themselves into something quietly extraordinary, discovers Nitin Sathe.
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