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.
Tabletop runways are constructed on hilly or elevated terrains. Also, there could be low lying areas adjacent to such runways and there could be gorges at the end of such runways. Airports Authority of India (AAI) Chairman Arvind Singh told PTI that tabletop runways are there at four airports operated by it.
It offers a real opportunity for the flag carrier to compete on the world stage, backed by a leading conglomerate with deep pockets like the Tatas, observes Indrajit Gupta.
Air India will no longer enjoy a priority in allocation of international traffic rights. This follows its takeover by Tata Sons in January. The Directorate General of Civil Aviation has dropped a clause which gave Air India an advantage over other private airlines in the amended rules issued on April 19.
Tata Sons is all set to acquire a residual stake of 16.33 per cent in AirAsia India from its joint venture (JV) partner AirAsia Berhad for $19 million (or Rs 142 crore) by early next year. The valuation is in accordance with the previous transaction under which AirAsia Berhad had sold its 32.6 per cent stake, said a banking source. Tata Group had increased its stake in AirAsia India at a valuation of $115 million.
The funeral of Sathe, 58, who was a resident of suburban Chandivali in Mumbai, will take place on Tuesday, said a senior Air India official.
The CISF has said it was the 'first responder' to rescue passengers on Friday as its Assistant Sub Inspector Ajit Singh was on runway patrol when the Air India Express flight from Dubai with 190 people on board overshot the table top runway, fell into a 35-foot valley and broke into two.
The pilots and cabin crew were provided training in all the steps on donning and doffing of Personal Protective Equipment suits, infection control practices to be followed inflight and also the management of anticipated health emergencies during the flight, the medical college authorities said.
"Today is the birthday of Capt Sathe'smother. He had last met his parents in March and was constantly in touch with them over phone since then. They had last spoken a day before yesterday," his nephew Dr Yashodhan Sathe told PTI.
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.
Scindia said on Twitter the Romanian prime minister has assured his continued support to Indian students crossing the Romanian borders.
'Digital Flight Data Recorder (DFDR) and Cockpit Voice Recorder (CVR) of the ill-fated aircraft have been retrieved. AAIB (Aircraft Accident Investigation Bureau) is conducting investigations,' Civil Aviation Minister Hardeep Singh Puri tweeted, as fresh questions were raised on the safety parameters of the runway.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
The industry is hoping the Tatas deepen their dive and offer two stable airlines -- a Vistara merged into Air India servicing the international routes, and an AirAsia India merged with Air India Express that competes with the low fare airlines in India and offers destinations within five hours, says Anjuli Bhargava.
Sathe had suffered multiple injuries on his skull in that incident, but due to his strong will power and passion he cleared the test and started flying again, his cousin said.
A strong demand for revocation of reservation and other benefits to tribals who convert to other religions was made in the Lok Sabha on Monday.
A red alert was declared in 8 districts of Kerala on Thursday by the India Meteorological Department (IMD) as rains continued to lash various parts of the state and disrupted the day-to-day lives of the people as roads got flooded or caved in and many got displaced from their homes to relief camps.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
In a circular issued on Tuesday, Saudi Arabia's General Authority of Civil Aviation said it was "suspending travel to and from the following countries: (India, Brazil and Argentina) including any person who has been in any of the mentioned countries above in the last 14 days prior to their arrival to the Kingdom".
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.
A day later, Hussain's family in Kerala are thankful he escaped but also know that many perils lie ahead.
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.
"As on 31.12.2020, the total Air India dues against various Government Departments on account of airfare including dues towards VVIP Operations were Rs 498.17 crore," the GoI said in a written reply in Lok Sabha
The first two special flights that will operate from Thursday to evacuate Indians stranded in the UAE due to the coronavirus pandemic
Several Indian students stuck in eastern parts of Ukraine, which is largely affected by the Russian military offensive, are facing a grim situation as it is difficult for them to travel by road to reach the western borders and move out of the war-hit country, one of the students returned to India said.
Captain Sathe was a former Indian Air Force Test pilot. He was commissioned into service in 1981 and served in the force for 22 years.
Tata Sons has started the process of due diligence of state-owned Air India and its subsidiary Air India Express. Sources said the group has appointed Bain and Company and Seabury Group for this purpose. Once complete, a financial bid will be submitted and a deal to take over the airline is likely to fructify by end of this year or even earlier, people involved in the process said. Simultaneously, the group has brought in veterans in the aviation business from Delta and United Airlines to prepare a plan for post-merger integration of Air India with its existing airline ventures. Tata Sons operates Vistara - a 51:49 percent joint venture with Singapore Airlines and Air Asia India, in which Tatas hold 83.67 per cent stakes.
Air India passenger flights were barred from landing in Hong Kong between August 18 and August 31 after 14 passengers on its Delhi-Hong Kong flight of August 14 tested positive for COVID-19 post arrival.
This is a setback for the divestment process of Air India as no other Indian airline has the capability to fund the process
The average number of flights the Air India group, including subsidiaries Alliance Air and Air India Express, operates daily is 674.
The pilots have been "derostered" pending investigation, Air India Express later said in a statement.
The flight from Dubai with 190 people, including a six-member crew, overshot the tabletop runway during landing at the Kozhikode airport in heavy rain on Friday, killing 18 people, including both the pilots.
Earlier, budget carrier SpiceJet said it would hire 500 from Jet, including 100 pilots. Air India Express has also inducted around 25 commanders from the grounded airline.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
Along with IAF officials, the AAIB will also reach out to experienced private sector executives, meteorologists, and aviation psychologists to be part of the probe.
Launching its biggest ever repatriation exercise, India on Thursday airlifted 363 of its citizens, including nine infants, stranded in the United Arab Emirates due to the international travel lockdown over the COVID-19 pandemic.
'It is indeed a fact that several issues were routinely red-flagged by DGCA, and were addressed by the (Kozhikode) airport operator. These pertain to excessive rubber deposits, water stagnation, cracks and other routine issues,' Puri tweeted a day after the plane crash in Kozhikode that claimed at least 18 lives.
