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.
The Union home minister said that on November 15, a grand celebration will be held at the 'Statue of Unity' to mark the birth anniversary of tribal icon Birsa Munda.
Teams have been formed and assigned to individual families with a rank of a deputy collector or tehsildar rank officer. Bodies will be handed over to the families and taken in ambulance to the village or district with a police pilot, Pandey said.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
The driver of the SUV that fatally struck Fauja Singh, the world's oldest marathoner, has been arrested. Amritpal Singh Dhillon, 26, was apprehended and his vehicle seized. The incident occurred on the Jalandhar-Pathankot highway in Punjab's Jalandhar district.
'The largest listenership for Vividh Bharati outside the country is in Spain.' 'The labourers who go there for the tomato-picking season feel cut off from their country and listen to Vividh Bharati to overcome their loneliness.'
"When the fuel control switch has to be cut off, the pilot flying will say, fuel control switch left, confirm. So, after the confirmation is made by the second pilot, the pilot monitoring will cut off (the switch).
The initial public offering of LG Electronics India Ltd received 54.02 times subscription on the final day of bidding on Thursday, driven by overwhelming participation from institutional buyers.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
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 victory took the Mumbai outfit to second position in the National Football League, behind city mates Mahindra United.
State-owned National Aviation Company of India Ltd (Nacil), which runs Air India, has approached the government to raise $2.3 billion through external commercial borrowings (ECBs) as part of a plan to restructure its high-cost working capital debt.
Diya Chitale and Manush Shah are the first-ever Indian pair to qualify for the prestigious WTT Finals to be held in Hong Kong in December.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
Voters in Bihar's Jehanabad and Ghosi express their hopes for change, particularly regarding job creation and development, in the upcoming government following the state elections.
Air India is seeking government approval to raise a Rs 2,000 crore loan and refinance $819 million aircraft debt, which would help tide over the financial crisis.
From hitting the winning runs against Australia in the semifinal to taking the catch of in-form South Africa skipper Laura Wolvaardt in the title clash, Amanjot played her part in India's winning campaign.
Investors who constantly hop between 'top-performing' funds often end up earning far lower returns than the very funds they invest in -- simply because they enter late and exit early. Best investors don't chase returns, they chase discipline, says Ramalingam Kalirajan.
According to the officials, generally, a passenger is not served more than 100 ml of liquor during a flight.
The Congress's performance in the Lok Sabha elections showed that it may be down but not out, and Modi is determined to ensure that in the next round in 2029, it is consigned to irrelevance, points out Saisuresh Sivaswamy.
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.
Reddy, who represents Andhra Pradesh's Anantapur seat in the Lok Sabha, reported late for the flight and therefore, was not allowed to board it, a source said.
'This festival season, advance airfares for major metros are up 20 to 25 per cent from last year.'
State-run Air India has withdrawn its 10 direct flights to international destinations in the last three years due to poor passenger load.
'The Modi government is trying hard to see if it could be sold to a private airline.' 'But it appears there are no takers.' 'If no buyer comes forward by June, the government will close down Air India,' predicts A K Bhattacharya.
The Chinese see no need to fight directly. They have an able and willing proxy in Pakistan, points out Shekhar Gupta.
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.
Admirer of Tendulkar, inspired by Pandya, UAE's Alishan Sharafu ready for India challenge in Asia Cup
As India prepare for a high-stakes ODI series, all eyes naturally turn to Rohit and Kohli as this series marks their return since the title-winning ICC Champions Trophy Final earlier this year.
"I am running for HOPE -- Humanity, Oneness, Peace and Equality," says Sufiya Sufee.
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 preliminary report on the Air India plane accident highlights potential confusion among pilots regarding fuel switches, which regulate fuel flow to the engines. The report suggests the switches were cut off and then switched on again shortly before the crash, raising questions about pilot actions and procedures.
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.
'It is very clear that Air India cannot be managed by the government.' 'Air India should be run as a separate profit entity.'
Part-I of this three-part series dives into Delhi-NCR's SPR, Sohna, Dwarka Expressway, and Jewar Airport leading the charge.
Indian skipper Rohit Sharma bonded and practiced with youngsters Ayush Mhatre and Indian Test batter Sarfaraz Khan on Tuesday.
More than 1,600 employees of Air India, the former state-run carrier now owned by the Tata group, have opted for voluntary retirement under a scheme announced on June 1. These employees comprise 22 per cent of permanent staff (around 7,000). The airline has a total employee strength of around 10,800, including those on contract.
Authorities at the Ahmedabad Civil Hospital have so far identified eleven victims of the June 12 Air India plane crash through DNA testing and started the process to hand over the bodies to their relatives, officials said on Saturday.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances