Nobody can anticipate, let alone predict, what Mr Modi will do in 2020.
While disinvestment-bound Air India's net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore
Amid continuing uncertainty over the fate of the national carrier, the official said there is also need for funds to restart operations of 12 grounded narrow-body planes
Air India has around 1,600 pilots and all of them have received the payment, he said
In total, these government agencies owe around Rs 268 crore to the national carrier, he said, adding that "around Rs 50 crore has been recovered from these agencies by the airline"
Roadshows were recently held in Singapore and London to gauge investor interest for the debt-laden national carrier
They have written a strongly-worded letter to Minister of State for Civil Aviation Hardeep Singh Puri regarding their dues
Secretaries to the civil aviation, agriculture, and transport ministries made presentations at the meeting
The sovereign guarantee will help the airline secure some funds, a part of which has already been drawn, he said adding," Air India is already in discussions with the banks."
Against the backdrop of the government working out the modalities for Air India disinvestment, seven employee groupings have also said the carrier can be turned around
Last month, the Cabinet had approved a strategic divestment of the government's 53.29 per cent stake in BPCL, along with transfer of certain management control
To revive the debt-laden Air India, the government is working on the modalities for 100 per cent stake sale in the national carrier
Delta to begin New York-Mumbai route on December 24
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
The official also said the government is trying to work out some formula to further make the deal more sweeter
The second and the most important learning of the bid process was regarding Air India's accumulated huge amount of debt, which was retained by saleable part of the airline
The government's refusal to inject money into national carrier Air India shows in its declining market share.
Air India is losing Rs 150-200 crore each month despite 10 per cent year-on-year increase in revenue
CAPA estimates Air India to post a loss of $500 million this year, due to the grounding of over 20 aircraft
The financial projections are based on the assumptions that oil prices are in the range of $60-65 per barrel, exchange rate is Rs 70-72 against USD and that airlines maintain pricing discipline.