Some of the operational goals the carrier has set for itself are 25 million domestic and 15 million international passengers by 2015.
National carriers stood second-last among eight of the scheduled domestic airlines in percentage terms of on-time performance in departures during 2008, government said on Tuesday.
Bhujbal said Sharad Pawar announced support to the BJP in 2014 after it formed government following the Assembly polls without the Shiv Sena's backing.
Meanwhile, replying to another query, the minister said that National Aviation Company of India Ltd had submitted a proposal for infusion of equity of Rs 1,231 crore (Rs 12.31 billion) and provision of soft loans worth Rs 2,750 crore (rs 27.5 billion) in the last fiscal.
"We have appointed SBI Caps. Soon, we would be getting feedback on what would be the short-, medium- and long-term restructuring required for Air India," Civil Aviation Minister Praful Patel said while speaking at an event on India Aviation 2010 international exhibition in New Delhi on Wednesday.
The airline's current board has only one independent director -- N Vaghul, ex-chairman of ICICI, while the remaining nine are either from the civil aviation ministry or the airline itself. On the requirement of funds for reviving the national carrier, Patel said that a revival plan on the financial side is expected from SBI Caps soon.
The Group of Ministers, which is reviewing the recovery path of Air India, will meet next month to discuss the infusion of Rs 1,200 crore (Rs 12 billion) as equity and review the steps taken by the national carrier for achieving a turnaround.
India's services sector income is on the rise, but what of the quality of people, asks Sanjaya Baru.
India's services sector income is on the rise, but what of the quality of people, asks Sanjaya Baru.
The airlines, which was forced to defer payment of June salary to majority of its staff, has piled up a loss of Rs 7,200 crore as on March 31. For the fiscal 2008-09, it is estimated to have incurred a loss of about Rs 5,000 crore (Rs 50 billion) in a difficult global aviation market.
Speaking to reporters after inaugurating a Rs 50-crore (Rs 500-million) aviation turbine fuel pipeline of Indian Oil Corporation from Manali to Chennai, the minister said: "Air India will not sack employees but financial and organisational restructuring is on the cards."
To overcome hurdles in land acquisition for airport projects, the government is planning to allow private players to build airports on their own land.
"If the charges are proved, then the NCP will completely dissociate itself from Patil," senior NCP leader and Union Civil Aviation Minister Praful Patel told media-persons in New Delhi.
The government is likely to allow state-owned Airports Authority of India to raise Rs 5,000 crore (Rs 50 billion) through infrastructure bonds to enable it to finance its ongoing programme to modernise and expand a large number of airports across the country.
The proceeds of the IPO are expected to be ploughed into activities like expanding the fleet of the airline, which was earlier merged with its sister carrier Indian.
In a setback to the Managlore airport, Civil Aviation Minister Praful Patel said he would "re-look" into the international status given to the Mangalore airport following Saturday's air crash.
Dr Manmohan Singh's government has 47 crorepati ministers in it. Nationalist Congress Party leader Praful Patel is the richest of the lot with assets worth Rs 89.9 crore.
The government on Wednesday asked promoters of the Mumbai International Airport Ltd (MIAL) to keep in mind local sensibilities during its modernisation amid claims of change of name of the airport.The Civil Aviation Ministry has strongly refuted allegations that the present name of the Chhatrapati Shivaji International Airport is being altered and the location of the statue of the warrior king is being replaced.
The Centre is planning to offer 20-25 per cent of its stake in Indian Airlines and Air-India to the public and the national carriers will have the same status like the listed public sector oil companies on the stock exchanges.
Air India delayed the payment of March salary to its employees by a month as it had to meet year-end expenses for various purposes, Parliament was informed on Thursday.
The Centre has ordered a probe into how a crude bomb found its way into the cargo hold of a Kingfisher flight in a "major breach of security", Civil Aviation Minister Praful Patel said on Tuesday.
The Centre asked state governments on Friday to review and rationalise their taxation policy on jet fuel and land acquisition practices to encourage the expansion of civil aviation sector so that they could themselves reap the benefits of its unprecedented growth.
'The BJP used Shinde and Shiv Sena to decimate Uddhav Thackeray, humiliate him by taking away his party as well as party symbol.' 'The Shiv Sena and Eknath Shinde have served their purpose.'
The Congress and the Nationalist Congress Party on Thursday sought to downplay the controversy that kicked up after "mischievous" remarks were made about Rahul Gandhi and Sonia Gandhi in the NCP-supported magazine Rashtravadi.
The biggest constraint to achieve a higher growth rate in South Asia is infrastructure. Growth in the region could have been higher if more investment in infrastructure would have been made, says Patel.
The Civil Aviation Ministry has recommended an equity infusion of Rs 2,000 crore (Rs 20 billion) in Air India in the next financial year after the beleaguered national carrier gets Rs 1,200 crore soon.
The decision on additional grant would also be taken keeping in view the high cost debt 'both current and long term' taken by Air India.
Civil Aviation Minister Praful Patel on Friday said the airline industry in India has grown by 400 per cent in a short span of about six-and-a-half years.
The government is considering allowing the GMR-led Delhi International Airport Ltd to charge airport development fee from passengers to meet the shortfall in financing the cost of expanding and modernising the Indira Gandhi International Airport.
Pawar, who was also the deputy CM in the previous Uddhav Thackeray-led Maha Vikas Aghadi (MVA) government, which was in power from November 2019 to June 2022, enjoys the image of a grassroot leader and an able administrator.
Sending a strong signal to domestic airlines over abrupt hike in airfares by some of them during periods of high demand, the Union civil aviation ministry on Thursday warned them of action if they continued with such 'predatory pricing'.
In a written reply to a question in the Rajya Sabha, civil aviation minister Praful Patel said some of the airlines have not been settling their dues in time. The minister said several airlines, including international carriers, had outstandings to privatised airports.
Turning down Civil Aviation Minister Praful Patel's plea for a fare cut, full service carrier Kingfisher Airlines on Monday said that at present there was no case for reducing air fare.Other airlines like SpiceJet and IndiGo also said that after the recent round of cuts in fuel surcharge, customers should not expect further benefits in the short term, though there would be some advance purchase packages in January.
The Indian hockey team recently won the Asia Cup, but the recognition the players received was nothing like what the cricket team is getting after the Twenty20 World Cup triumph.
Highly placed sources said Oil Minister Murli Deora took exception to Menon's proposals during a meeting of the Federation of Indian Airlines and Civil Aviation Minister Praful Patel to resolve the crisis arising out of mounting fuel bill arrears. "There should not be any layoffs. Why are you raising it now," sources quoted Deora as telling Menon.
The Nationalist Congress Party on Monday named Chhagan Bhujbal as the next deputy chief minister of Maharashtra.Earlier, a meeting of the NCP legislature party had authorised party president Sharad Pawar to name the new leader.Pawar's nephew and state Water Resources Minister Ajit Pawar and former deputy CM R R Patil were the other aspirants for the post.
A draft note on equity infusion in Air India, prepared by the civil aviation ministry, is being sent to Cabinet Committee on Economic Affairs.
Union Civil Aviation Minister Praful Patel's dream to make Indian airports an international aviation hub may have to wait.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances