Page 9 - Air India

Tata's Air India win to Zee-Sony deal: 2021, year that was for businesses

After a year of disruptions, businesses were better prepared in 2021, not only adjusting to the new normal but also making the most of it

Air India's return flight to Tatas may get delayed due to pending approvals

Dates to be cleared after requirements for fulfilling condition precedents met

Air India bookings hit as inventory goes off platforms for travel agents

Travel association seeks clarity from national carrier about the problem in their peak business season

PSUs borrowing to buy equity of another firm defeats purpose: CAG

Due to poor financial condition, it said, ChPT had to raise a loan of Rs 1,775 crore at a rate of interest of 8 per cent per annum for purchasing the GoI's stake in KPL

Air India paid 'avoidable' Rs 43.85 cr penalty for non-compliance: CAG

Air India shelled out an avoidable penalty of Rs 43.85 crore to Boeing for non-adherence with the contractually stipulated timelines under the agreement for an aircraft component service programme

CCI approves acquisition of shareholding in Air India by Tata Group

In October, Talace Pvt Ltd emerged as the winning bidder for Air India with a bid worth Rs 18,000 cr

Air India transaction presents a 'win-win' situation, says Scindia

The disinvestment will provide an opportunity for the airline to rise as a phoenix again, the minister said

Govt departments, autonomous bodies owe over Rs 244 cr to Air India

Government departments and autonomous bodies have dues of more than Rs 244 crore to Air India, of which a little over Rs 30 crore has been recovered, the government said in Parliament on Monday. "Government departments/autonomous bodies owe Air India Rs 244.78 crore as on September 30, 2021. Out of this, Rs 30.38 crore has been recovered as on November 30, 2021," Minister of State for Finance Bhagwat Karad said in a written reply in the Lok Sabha. He was responding to a set of questions raised by several MPs regarding sale of Air India to Tata group. Karad said there was a huge accumulated debt on Air India, following which the government took an enterprise value (EV) bidding approach for strategic divestment of Air India and its identified subsidiaries and joint ventures. "The strategic disinvestment transaction has been carried out for the entire company as a going concern. Assets other than non-core assets and liabilities other than those excluded from the transaction will remai

Air India owes Rs 2,350 crore to AAI, SpiceJet Rs 185 crore

The AAI owns 125-odd airports across the country. Airlines have to regularly pay various charges such as landing charges and parking charges to the AAI to operate aircraft from its airports

AI pilots put off strike plans; to meet civil aviation secy on Monday

The Indian Commercial Pilots Association and the Indian Pilots Guild had earlier in the week given a three-day ultimatum to the airline to reverse the pay cut

US-bound Air India flight returns to Delhi due to death onboard

The flight returned to Delhi after more than 3 hours of flight

Air India disinvestment: Union moves Madras HC on employees' welfare

The court, in interim relief to the petitioner, restrained the Ministry and other authorities concerned from evicting the members of the Air Corporation Employees' Union in Meenambakkam

Govt seeks Parliament nod for Rs 3.73 trn additional spending this fiscal

The government on Friday sought Parliament's nod for gross additional spending of over Rs 3.73 lakh crore in the current financial year. As per the second batch of supplementary demands for grants tabled in Lok Sabha by Minister of State for Finance Pankaj Chaudhary, the net cash outgo would be over Rs 2.99 lakh crore and Rs 74,517 crore extra expenditure would be matched by savings by different ministries. The amount includes extra spending of Rs 58,430 crore towards fertiliser subsidy, over Rs 2,000 crore towards various schemes of Department of Commerce and over Rs 53,000 crore by Department of Expenditure under various export promotion schemes.

With Air India, Tatas get a stake in Kerala's Cochin airport

The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers

Air India pilots warn of industrial action if pay cut not restored

The unions, which have been pressing for restoration of salary cuts, have cited resumption of scheduled international flights and rollback of pay cuts by other airlines to justify their demand.

The tale of two airlines

The pandemic may have willy-nilly created an opportunity to correct the anomalies of the past

Air India board to meet on Monday to finalise prepayment of Rs 12k-cr debt

Loans were raised by the airline as NCDs at 9.05-10.05% interest rate, will be prepaid as part of govt's sale of airline to Tatas

'Govt making all efforts to complete AI disinvestment process by Dec-end'

The government is making all efforts to complete the disinvestment process of national carrier Air India by the end of December, according to a senior official. Tata group firm Talace Pvt Ltd has emerged as the winning bidder for loss-making Air India. On October 25, the government signed the share purchase agreement with Tata Sons for the sale of the airline for Rs 18,000 crore. The amount includes payment of Rs 2,700 crore in cash and take over Rs 15,300 crore of the carrier's debt. 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. On Wednesday, Civil Aviation Secretary Rajiv Bansal said all efforts are being made to complete the disinvestment process of Air India by the end of December. Bansal is also the Chairman and Managing Director of the national carrier. Air India has been incurring a monthly loss of more than Rs 600 crore, he noted. The airline has 43 wide-body planes, including 2

Delhi HC upholds AI's passenger service system tender award to Amadeus

Amadeus won the contract; rival Sabre had moved court challenging favouritism in tender process

Three Air India employees arrested for helping gold smugglers: Officials

Three employees of Air India, accused of having a role in the smuggling of gold, have been arrested, officials said on Friday