It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point
The new owners of Air India will have to retain all the employees of the national carrier for at least one year post which they can offer a VRS. The gratuity, pension fund and post retirement medical benefits of existing and past employees too would be honoured by the new owner, civil aviation secretary Rajiv Bansal said. Tata Sons has emerged as the winning bidder for Air India with the government accepting its Rs 18,000 crore offer to acquire 100 per cent of the debt-laden state-run carrier.
The recent helicopter crash near Kedarnath, in which seven lives were lost, has proven yet again that aviation regulatory authorities have not learnt lessons from similar air mishaps in the challenging Kedar valley and have done little to improve flying conditions.
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 senior pilot was suspended in May last year after being found guilty of sexual harassment by an internal committee of the airline. The committee imposed a 'major penalty' on Captain Sachin Gupta, who has now appealed to the next authority against the punishment.
The final approval for the acquisition of 97 LCA Mark 1A fighters was given by a high-level meeting on Tuesday and will pave the way for Hindustan Aeronautics Limited to produce the aircraft, defence sources told ANI.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
The collective West has always opposed strong leaders and economic development in India, asserts Colonel Anil A Athale (retd).
Lightning claims more lives in India annually than any other extreme weather event. Between April and July this year alone, 1,621 people died due to lightning strikes.
'$125 million for the hull and the remaining of over $350 million for liability.'
There were apprehensions that additional secondary tariffs would have hit India in case the US decided to enforce them.
As the Bihar assembly results swept in, Patna's Veerchand Patel Marg, the city's political artery, split into two starkly different worlds, with celebrations at the BJP and JD(U) offices and disappointment at the RJD headquarters.
Part-I of this three-part series dives into Delhi-NCR's SPR, Sohna, Dwarka Expressway, and Jewar Airport leading the charge.
A senior government official confirmed that after a meeting with other stakeholders, the decision has been taken and airlines and airport authorities have been informed about it.
The claims will include three kinds of liabilities: Damage to the aircraft; loss of lives who were aboard the aircraft; including the crew members; and third-party liability because of loss of lives where the aircraft crashed; and cargo liability.
Planemakers have started pitching their latest aircraft to a privatised Air India which has been acquired by salt-to-steel conglomerate Tata Sons. European aerospace major Airbus on Monday said that it is in talks with the airline to sell its long haul aircraft Airbus A350-900. The wide-body aircraft is capable of flying non-stop between India and United States- one of the most popular and revenue generating routes.
They alleged that while the salaries and perks of other employees are paid in full albeit with a delay, the same for the pilots and cabin crew are ignored
According to officials, more clarity might be required with regard to foreign fund managers in the context of Air India divestment.
The ministry of civil aviation clarified that, contrary to circulating reports, a video recorder that had been recovered at the crash site was not the DFDR.
Chief of Defence Staff Gen Anil Chauhan identifies China border dispute as India's biggest national security challenge, followed by Pakistan's proxy war. He also highlighted regional instability, future warfare scenarios, and dealing with nuclear-armed adversaries as major concerns.
Justice John Major released a scathing report on the 1985 Air India Kanishka bombing investigation at the Media Center in Ottawa on Thursday, in which he stressed, "This is an Air India, Canadian atrocity."
In the phone conversation on Tuesday, Singh urged Hegseth to expedite the delivery of GE F404 engines to power the Tejas Light Combat Aircraft, people familiar with the matter said.
Prime Minister Narendra Modi inaugurated Phase 1 of the 19,650 crore (196.50 billion) Navi Mumbai International Airport, marking a major milestone in India's aviation infrastructure. Conceived as the country's largest greenfield airport project, the facility has been developed under the public-private partnership model and will function as the second international airport for the Mumbai Metropolitan Region, easing pressure on the congested Chhatrapati Shivaji Maharaj International Airport. The new airport is expected to significantly improve air connectivity for Mumbai and its adjoining regions, catalyse economic growth in Navi Mumbai and Raigad districts, and serve as a key hub for passenger and cargo traffic in western India.
Russia has a "special mechanism" to confront any challenge arising out of the US slapping punitive measures against India for its procurement of Russian crude oil, Russian charge d'affaires Roman Babushkin said on Wednesday.
The Indian Air Force will carry out a two-day mega military exercise along the border with Pakistan from Wednesday that will involve all the frontline fighter jets including Rafale, Su-30 and Jaguar aircraft. The exercise is taking place amid heightened tensions between India and Pakistan over the April 22 Pahalgam terror attack that killed 26 people. India's civil aviation authorities have already issued a Notice to Airmen (NOTAM) for the major air exercise that will largely take place along the southern and western section of the Indo-Pakistan border. India's frontline fighter jets including the Rafale, Su-30 MKI, MiG-29, Mirage-2000, Tejas and AWACS (Airborne Warning and Control System) aircraft are set to feature in the exercise.
10 Heroes of the 1965 War which ended on September 23 60 years ago.
'The background for the Saudi-Pakistan agreement is the fact that the regional security order has collapsed due to the Israeli attack on Doha.' 'The Americans have largely abandoned their security guarantee for West Asia and the region has no choice but to look at alternatives.'
Colliers reports that GCC leasing has jumped from 4.6 million square feet in 2021 and is expected to hit 10.6 million square feet by 2025 -- a clear sign that multinationals see Bengaluru as a long-term base.
Sensex sinks 573 pts on global tensions and high crude prices
Defence Minister Rajnath Singh says India achieved all objectives of Operation Sindoor, emphasizing that escalating the situation to war with Pakistan was not the aim. He highlighted India's fight against cross-border terrorism and the successful exposure of Pakistan's air defense system.
By 10 am, Rakshit N Jagdale is already deep into the rhythm of the day, which promises to be a carousel of meetings, calls, and strategic decisions. As managing director of Amrut Distilleries, he balances ritual and ambition, tradition and transformation, like many other legacy players in India's alcoholic beverages sector who are staring at a rosy future.
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.
Ending a seven-year-long wait, the Star Alliance Chief Executive Board, at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.
'But that was not our aim. Our objective was already achieved.'
'The Pahalgam terror attacks and the conflict that followed were a big blow to local tourism.' 'And just when things were starting to go back to normal, the floods, caused by heavy rain, spoiled all chances of a bounce-back this season.'
The Supreme Court has admitted for hearing a public interest litigation (PIL) alleging a major scam during the tenure of Praful Patel as the Civil Aviation Minister in the UPA-I government.
The primary market is set for a busy week as two major companies, Tata Capital Ltd and LG Electronics India Ltd, gear up to launch their initial public offerings (IPOs), collectively worth more than Rs 27,000 crore.
Air India Boeing 787-8 crash in Ahmedabad has brought back all traumatic memories.
Kochi will be the new headquarters of Air India Express, while Thiruvananthapuram will be the main engineering centre of the airline.
'It is very clear that Air India cannot be managed by the government.' 'Air India should be run as a separate profit entity.'
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