Air India buyer has to take over interest-bearing debt of Rs 16,500 crore a large portion of which is aircraft related, meaning they are backed by aircraft value
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
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.
The MEA release said that the embassy of India in Kabul will further augment India's contribution to Afghanistan's comprehensive development.
Pakistan launched a retaliatory operation, 'Ghazab lil Haq,' against the Afghan Taliban following alleged border attacks, resulting in reported casualties and destruction of Taliban infrastructure.
Pakistan declared an 'open war' with Afghanistan following airstrikes targeting Taliban fighters in response to alleged cross-border attacks. The situation has drawn international concern, with calls for de-escalation and diplomatic resolution.
Two unions representing Air India pilots have asked members not to accept the revised compensation and employment offer, calling the company's proposals "unfair labour practices." They said any coercion on pilots to sign the offer would lead to industrial unrest. The Tata group airline announced on Monday a new salary structure for pilots and cabin crew.
Prime Minister Narendra Modi condemned the violation of Qatar's sovereignty following Israeli air strikes on Doha, targeting Hamas leaders. He conveyed India's deep concern to the Emir of Qatar and reiterated support for peace and stability in the region.
The operations of many global carriers, including Qatar Airways, have also been impacted due to the airspace curbs in the wake of the Middle East tensions.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
Air India is likely to rejig its team of directors shortly in view of retirement of some of its top officials.
Indian airlines are likely to face additional weekly expenses of Rs 77 crore for international flights operated from north Indian cities as the airspace curbs result in increased fuel consumption and longer flight duration. An analysis of the number of overseas flights and back-of-the-envelope calculations based on increased flight time as well as approximate expenses by PTI showed that the additional monthly operational costs could be over Rs 306 crore.
India is already a heavyweight in global farm trade in pockets such as rice exports, but experts are urging a pivot from a subsidy- and procurement-driven mindset to a productivity and nutrition strategy that still shields farmers from volatility.
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
In a statement, Civil Aviation Minister K Rammohan Naidu said the airport and emergency teams responded swiftly and effectively after a full emergency was declared at 18.05 hours.
The accident occurred at 7:45 pm while the pilot was attempting to land the B737 Air India Express from Dubai at the tabletop runway of the Karipur International Airport.
Out of the total amount, Rs 17,359.77 crore is aircraft loan, while Rs 31,517.04 crore is working capital loan.
In the Indo-Pacific's new era -- where perception shapes reality faster than treaties -- the real entrapment is not of China or the United States. It is the test Japan has set for itself -- and whether partners like India, acting as balancers rather than accelerants, can help ensure that the story ends in stability, points out Varun Arya.
Fight on toward goals that keep receding, or exit with most objectives unmet. Trump is agitated, his poll numbers falling below the Plimsoll line, his base fractured between those who back the war and those who remember that he campaigned on ending them.
Divestment-bound Air India is looking to sell securities of its two provident trusts AIEPF and IAEPF, and has sought applications for transaction advisors to help with the proposed sale of the securities. The Air India Employees Provident Fund (AIEPF) trust and Indian Airlines Employees Provident Fund (IAEPF) trust are governed by the Provident Fund Trust Act, 1925. The two trusts' investments together amounted to Rs 4,500 crore as of August 31, 2021, according to the tender document, seeking RFPs for the appointment of the transaction advisors.
Union Minister Pralhad Joshi assures that the Indian government is prepared to bring back Indians stranded in the Gulf region due to the Iran-Israel conflict and disruptions in Dubai, emphasizing citizen safety as the top priority.
Apart from the Adani group, the Tata group, the Hinduja group, Indigo and a New York-based fund, Interups, are expected to submit EoIs.
The changes are in view of the requests received from interested bidders and the prevailing situation arising out of COVID-19.
The enduring relationship between the two countries have survived the disintegration of the erstwhile USSR in 1991, the end of the Cold War and the regime change in both countries, points out Rup Narayan Das.
Though the airline has kept a reserve price of Rs 315 crore for these properties, it hopes to make around Rs 500 crore from the sale.
'If you are selling family silver, and if you are not getting the right value, then what is the point?'
To attract bidders, the government had decided to hive of around Rs 35,000 crore of the company's debt into a separate subsidiary, leaving around Rs 23,286 crore to be absorbed by the new bidder.
The Badminton World Federation (BWF) on Thursday said it has reviewed the facilities at the Indira Gandhi Sports Complex, which is hosting the $950,000 India Open, and asserted that the venue meets all requirements for staging the World Championships in August.
Domestic air traffic grew by over 18 per cent last month compared to October last year as Air India's passenger load factor overshot that of IndiGo which had the largest number of flight cancellations, official data showed on Monday.
The international operations of Air India seem to be the main attraction for IndiGo, which has also flagged concerns about some foreign overseas airlines being allowed "disproportionate access" to the Indian market.
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.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
India has advised its citizens to defer travel to Nepal due to ongoing unrest and anti-government protests. The Ministry of External Affairs has also urged Indian citizens currently in Nepal to exercise caution and avoid public areas.
According to airline sources, the software, which is of Atlanta-based SITA company, was not functioning approximately from 3 am to 9 am on Saturday. Consequently, boarding passes could not be issued at major airports across the world and various flights were delayed.
According to the officials, generally, a passenger is not served more than 100 ml of liquor during a flight.
"Heartbroken by the loss of Shri @RNTata2000 Ji, whose visionary leadership not only transformed India's industry but also played a pivotal role in shaping our aviation sector," Naidu said in a post on X.
In an interview to rediff.com's Vicky Nanjappa, Mohammad Beary, who represents the victims as president of the Mangalore Air Crash Victims Family Association, explains the manner in which Air India has been trying to settle the dues without adhering to the Montreal convention.
'Should China's interest in the Teesta River projects be approved, it would likely result in heightened Chinese presence near the Siliguri corridor.'
To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15. The source said bids will be sought on an enterprise value basis - a popular valuation methodology for takeover deals.
Three women from Arunachal Pradesh living in Delhi allege they were subjected to racial slurs and harassment by their neighbors following a minor dispute over dust from an AC installation.
