Page 10 - Air India

Tata Sons working on merging AirAsia India and Air India Express: Report

Tata owns 84 per cent stake in AirAsia India, allowing it to create a single airline entity quickly.

Air India sale, Tatas' EV arm keep deal street busy with $9.2 bn fund flows

The Air India sale to the Tatas has helped the deal street sizzle in October which in total saw 221 deals worth USD 9.2 billion -- 24 per cent more than the money changed hands in the same month in 2020, according to an industry report. According to Grant Thornton dealtracker report on Monday, October was encouraging, both in terms of deal volume and deal value, indicating the continuum in deal activities. While volume jumped two times over October 2020, in value terms it grew 24 per cent. In October, 61 mergers and acquisitions worth USD 3.3 billion were announced of which as much as USD 2.4 billion were the Tatas paying the government for the national carrier Air India, and 160 private equity deals worth USD 5.9 billion, which was 62 per cent more than the year ago period, according to the data collated by the agency. With 61 deals, M&As were the highest since 2015, up 62 per cent in volumes and 25 per cent in value. The month also witnessed the birth of five new unicorns: ...

Pilots seek settlement of outstanding dues pre-handover of Air India

The Indian Pilots Guild (IPG) has written to the Chairman and Managing Director of Air India for settling all outstanding dues with employees pre hand-over.

Best of BS Opinion: After selling the Maharajah, Inflation conundrum & more

Here is the best of Business Standard's opinion pieces for Wednesday

After selling the Maharajah

Privatisation of Air India should lead to a downsizing of the aviation ministry and other regulatory reforms

Top Headlines: India to reach net zero by 2070, ex-SBI chairman arrested

Business Standard brings you the top headlines at this hour

Ministries, PSUs, govt depts owe more than Rs 600 crore to Air India

Airline is owed Rs 1,500 crore for tickets: mainly for flying VVIPs, ministers, foreign dignitaries and evacuation operations.

Clear Air India dues, buy tickets in cash: FinMin tells ministries

The government on Monday signed a share-purchase agreement with Tata Sons for the sale of the national carrier for Rs 18,000 crore

Govt asks ministries to clear Air India dues, make payments for tickets

It also directed the ministries/departments to alert its subordinate offices/institutes under its administrative control for compliance to this office order

Govt signs share purchase agreement with Tatas for Air India sale

After signing the deal, Conditions Precedent (CP), which includes terms and conditions, will be completed in eight weeks, as per the plan shared by govt

Top headlines: Airtel accepts 4-year moratorium; IPL gets 2 more teams

Business Standard brings you the top headlines at this hour

Govt signs share purchase agreement with Tata Sons for Rs 18,000-cr AI deal

The government on Monday signed a share purchase agreement with Tata Sons for sale of national carrier Air India for Rs 18,000 crore

BPCL privatisation faces bigger obstacles than Air India sale. Here's why

BPCL privatisation faces bigger obstacles than Air India sale. Here's why

AirAsia India expected to soon get international flying permit

With AirAsia India getting close to obtaining international flying rights, conglomerate Tata Sons, will in the near future, have four airlines with permits for overseas operations.

Air India divestment will re-energise civil aviation sector, says PM Modi

The prime minister said that Covid vaccinations will inspire confidence among foreign tourists

Challenges abound as Tata draws up a flight plan for Air India

Industry executives warn any success will be a long and complicated process that could cost Tata Sons more than $1 bn

Govt paying Rs 20 cr daily on Air India, wants quick handover: DIPAM Secy

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. Earlier this month, the government had accept

What will be the task ahead for Tatas to get Air India soaring again?

Air India has returned to the Tatas' stable after 68 years. But, that's just the first step. Let's delve into the long flight to stability that the airline and the group will have to chart

Sale of Air India will constitute an 'important milestone': IMF official

The International Monetary Fund on Monday said the sale of national carrier Air India will constitute an "important milestone" in India's privatisation efforts. Tata group has emerged as the winning bidder for the loss-making Air India, and on October 11, a letter of intent (LoI) was issued to the group. "We welcome the recent agreement on the sale of Air India, which constitutes an important milestone," Alfred Schipke, Director of IMF-STI Regional Training Institute and a former IMF India Mission Chief, told PTI in an interview. Earlier this month, the government accepted an offer by Talace Pvt Ltd, a unit of Tata group, to pay Rs 2,700 crore cash and takeover Rs 15,300 crore of Air India's debt. After Tatas accept the LoI, the share purchase agreement (SPA) for the sale will be signed. Along with Air India, Tatas will acquire low-cost carrier Air India Express and Air India's 50 per cent stake in equal joint venture AISATS. "In general, to maximise the benefits from privatisatio

TMS, Ep 22: Task for Tatas, Nirmal Jain Q&A, and Thrasio-style startups

What will the Tatas have to do to get Air India soaring again? How does IIFL's Nirmal Jain see retail investors' growing interest in equity markets? What are Thrasio-style startups? All answers here