Govt needs to infuse Rs 3,000 cr in Air India to ensure continuity of operations as sale process to get delayed: CAPA
4 years, 9 months ago

Govt needs to infuse Rs 3,000 cr in Air India to ensure continuity of operations as sale process to get delayed: CAPA

Firstpost  

The government’s plan to privatise flag carrier Air India will be further delayed and it will have to infuse up to Rs 3,000 crore to ensure continuity of operations till the sale process gets over, the Centre for Pacific Aviation said on Wednesday Mumbai: The government’s plan to privatise flag carrier Air India will be further delayed and it will have to infuse up to Rs 3,000 crore to ensure continuity of operations till the sale process gets over, the Centre for Asia-Pacific Aviation said on Wednesday. In January, the government restarted the divestment process of the carrier and invited bids for selling its 100 percent stake in both Air India and its low-cost international budget arm Air India Express besides entire 50 percent holding in ground-handling joint venture AI-SATS. Air India pilot unions - Indian Pilots Guild and Indian Commercial Pilots Association- on Monday wrote to Minister of State for Civil Aviation Hardeep Singh Puri, seeking immediate financial assistance to the airline in view of the situation arising out of the coronavirus outbreak. After its unsuccessful bid to sell Air India in 2018, the government this time decided to offload its entire stake.

India Air Process Capa Sale Process  air  carrier  operations  stake  plan  process  needs  infuse  sale  aviation  indian  rs  govt  delayed  ensure  india

History of this topic

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing
1 year, 8 months ago

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing

India TV News  

Alliance Air : Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd, a special-purpose vehicle formed by the central government. The finance ministry has approved an equity infusion of …

Air India likely to be handed over to Tata Group today: Timeline
2 years, 11 months ago

Air India likely to be handed over to Tata Group today: Timeline

Hindustan Times  

Air India is expected to be handed over to the Tata Group on Thursday. Here's a look at the previous attempts at privatisation: 2001: The Atal Bihari Vajyapee-led National Democratic Alliance government tried to sell a minority stake in order to raise funds. 2007: Congress-led UPA government decided to merge Air India and its subsidiary Indian Airlines to curb financial …

Opinion | No dearth of privatisation critics but Centre must go ahead with PSU sale in 2022
3 years ago

Opinion | No dearth of privatisation critics but Centre must go ahead with PSU sale in 2022

Firstpost  

Just like the strategic sale of Balco in 2001, when the government sold its 51 percent equity in the aluminum major, galvanised privatisation in the country, Air India sale has the potential of accelerating the pace of disinvestment. From Air India privatisation and other minority stake sales, the government has mopped up Rs 9,240 crore, according to the Department of …

Government making all efforts to complete Air India disinvestment process by December-end: Rajiv Bansal
3 years, 1 month ago

Government making all efforts to complete Air India disinvestment process by December-end: Rajiv Bansal

The Hindu  

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. 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. Of the total amount, Talace will take over …

Air India sale: Modi govt's first privatisation in 7 years; what next?
3 years, 3 months ago

Air India sale: Modi govt's first privatisation in 7 years; what next?

Business Standard  

The long-awaited sale of India’s national carrier Air India is now done. These PSUs were: Modern Foods Maruti Udyog Bharat Aluminium Company CMC Hindustan Teleprinters Hindustan Zinc Indian Petrochemicals Jessop and Co Lagan Jute Machinery Paradeep Phosphates Videsh Sanchar Nigam Ltd These companies have performed significantly well since moving into private hands. Hardware maintenance company CMC was also purchased by …

Air India Privatisation: Tata Group & SpiceJet Submitted Final Bids, What Will Happen Next?
3 years, 3 months ago

Air India Privatisation: Tata Group & SpiceJet Submitted Final Bids, What Will Happen Next?

News 18  

India’s flag carrier Air India has moved one step forward in the direction of its privatisation. The government, as part of the exercise, also plans to sell its entire stake in Air India Express and 50 per cent stake in Air India SATS Airport Services Private Ltd. India’s salt to software conglomerate, Tata Group has submitted a financial bid for …

Air India may get new buyers in May-June
3 years, 9 months ago

Air India may get new buyers in May-June

India TV News  

The much-delayed privatisation of Air India is likely to complete in the first half of this year. Speaking at the Times Network India Economic Conclave, the Union Minister for Civil Aviation, Hardeep Singh Puri said that financial bids for the national carrier will be submitted sometime in May. Further, reports suggest that Ajay Singh has partnered with Ras Al Khaimah …

Govt Says BPCL, Air India Stake Sale Will be Completed by September, LIC IPO Post October
3 years, 11 months ago

Govt Says BPCL, Air India Stake Sale Will be Completed by September, LIC IPO Post October

News 18  

The initial public offering of India’s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government’s divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise Rs 1.75 lakh crore from the asset …

BPCL, Air India stake sale by September; LIC IPO post October, says DIPAM Secretary
3 years, 11 months ago

BPCL, Air India stake sale by September; LIC IPO post October, says DIPAM Secretary

The Hindu  

The initial public offering of India's largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government's divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise ₹1.75 lakh crore from the asset sale …

Phase-II of Air India disinvestment to start Jan 5
4 years ago

Phase-II of Air India disinvestment to start Jan 5

India TV News  

The second phase of the strategic disinvestment of Air India will start on January 5, 2021 with the announcement of the names of the qualified bidders. The presentation noted that in view of the post-Covid situation and severe impact on aviation sector, the government has considered various options related to disinvestment, including bidding parameters in the PIM and meetings of …

Air India bid deadline may be extended till Dec 15, govt to ease asset valuation norm
4 years, 2 months ago

Air India bid deadline may be extended till Dec 15, govt to ease asset valuation norm

India TV News  

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. The deadline for Air India bid is proposed to be extended till December 15,” the source told PTI. This would be the fifth extension to the Air India bid …

Govt should not be running airport and airlines, hopeful of privatising Air India in 2020: Hardeep Puri
4 years, 4 months ago

Govt should not be running airport and airlines, hopeful of privatising Air India in 2020: Hardeep Puri

India Today  

The government should not be running airports and airlines, Civil Aviation Minister Hardeep Singh Puri said on Sunday, adding that he hopes to privatise Air India during 2020. Addressing a virtual meet on Namo app, Puri said, "I can tell you from my heart the government should not be running airports and the government should not be running airlines." Last …

Coronavirus Outbreak: Govt may further extend 30 April deadline to bid for Air India stake sale
4 years, 9 months ago

Coronavirus Outbreak: Govt may further extend 30 April deadline to bid for Air India stake sale

Firstpost  

The government is likely to extend the 30 April deadline to bid for Air India as the COVID-19 fallout has disrupted economic activities globally, an official has said New Delhi: The government is likely to extend the 30 April deadline to bid for Air India as the COVID-19 fallout has disrupted economic activities globally, an official has said. This would …

COVID-19: Air India says ’insurmountable’ dip in revenues, issues various cost-cutting measures
4 years, 9 months ago

COVID-19: Air India says ’insurmountable’ dip in revenues, issues various cost-cutting measures

Live Mint  

Air India informed its employees on Friday that it is taking various cost-cutting measures, including decreasing allowances for all employees, except cabin crew, by 10 per cent for three months as there is an "insurmountable dip" in the revenues due to the coronavirus outbreak. These measures have been announced days after GoAir announced layoff of expat pilots and IndiGo declared …

Air India sale: Govt extends deadline to bid for cash-strapped national carrier till 30 April
4 years, 10 months ago

Air India sale: Govt extends deadline to bid for cash-strapped national carrier till 30 April

Firstpost  

The government on Friday extended the deadline for submitting bids for buying 100 percent stake in Air India till 30 April New Delhi: The government on Friday extended the deadline for submitting bids for buying 100 percent stake in Air India till 30 April. Home Minister Amit Shah-led ministerial panel on Air India decided on extending the deadline for submission …

Government extends deadline to bid for Air India till April 30
4 years, 10 months ago

Government extends deadline to bid for Air India till April 30

India TV News  

The government on Friday extended the deadline to bid for Air India till April 30, from March 17. Home Minister Amit Shah-led ministerial panel on Air India decided on extending the deadline for submission of expression of interest by interested bidders till April 30. While extending the date, the Department of Investment and Public Asset Management in a notification said …

Air India disinvestment process going on 'extremely well'; govt may extend initial bids deadline: Aviation minister Hardeep Singh Puri
4 years, 10 months ago

Air India disinvestment process going on 'extremely well'; govt may extend initial bids deadline: Aviation minister Hardeep Singh Puri

Firstpost  

Civil Aviation Minister Hardeep Singh Puri on Friday indicated that the deadline for submission of preliminary bids for Air India could be extended even as he emphasised that the disinvestment process is going on “extremely well” New Delhi: Civil Aviation Minister Hardeep Singh Puri on Friday indicated that the deadline for submission of preliminary bids for Air India could be …

As Govt Revamps Its Offer, Will the Air India Sale Go Through?
4 years, 11 months ago

As Govt Revamps Its Offer, Will the Air India Sale Go Through?

The Quint  

After a failed first attempt in 2018, the Centre has announced its second attempt to privatise Air India, the country’s third-largest carrier by market share. The bid invitation is for Air India and two of its subsidiaries –– one, its low-cost airline Air India Express Limited and two, its cargo handling services company Air India SATS Airport Services Private Limited. …

Air India disinvestment 'wholly anti-national': Subramanian Swamy
4 years, 11 months ago

Air India disinvestment 'wholly anti-national': Subramanian Swamy

India TV News  

BJP leader and Rajya Sabha MP Subramanian Swamy has hit out at the Centre over its decision to go for 100 per cent Air India disinvestment terming the move a wholly anti-national step. Subramanian Swamy tweet screenshot Swamy also posted information shared by an IT professional about Air India who asked why the Modi government wanted to sell the family …

Air India sale: Govt to sell 100% stake in national carrier with 17 March deadline for EoI submissions; all eyes on suitors
4 years, 11 months ago

Air India sale: Govt to sell 100% stake in national carrier with 17 March deadline for EoI submissions; all eyes on suitors

Firstpost  

While many industry veterans are bullish on investor interest for Air India, some of the sector experts said that it may not be easy given the current business environment globally. A document inviting expressions of interest in Air India, released on Monday, said the governent would sell a 100 percent stake in the carrier, which operates both domestic and international …

Air India will keep on running till it is privatised: Aviation minister
5 years ago

Air India will keep on running till it is privatised: Aviation minister

India TV News  

Weeks after the Air India chief stated that the airline's financial situation was "grossly untenable" for sustaining operations, Civil Aviation Minister Hardeep Singh Puri clarified on Tuesday that the national carrier, which is incurring a loss of Rs 20-26 crore daily, will keep on running till it is privatised. While disinvestment-bound Air India's net loss in 2018-19 was around Rs …

Trying to privatise Air India as quickly as possible: Hardeep Singh Puri
5 years ago

Trying to privatise Air India as quickly as possible: Hardeep Singh Puri

India TV News  

Once again reiterating that Air India will be privatised, Union Civil Aviation Minister Hardeep Singh Puri on Tuesday said that they are trying to do it as quickly as possible adding that over a period of time it has gathered debt which could be described as unsustainable. Speaking on Air India privatisation, Hardeep Singh Puri said, "We do not become …

Without buyer, Air India might be forced to shut down in six months: Airline official
5 years ago

Without buyer, Air India might be forced to shut down in six months: Airline official

India TV News  

Struggling Air India might be forced to shut down by June next year unless it finds a buyer as "piecemeal" arrangements cannot be sustained for long, according to a senior airline official. Sounding alarm bells, the official said Air India might well go Jet Airways way if a prospective buyer does not come on board by June next year. The …

BPCL, Air India privatisation: Govt to go ahead with disinvestment of PSUs despite opposition, protests
5 years, 1 month ago

BPCL, Air India privatisation: Govt to go ahead with disinvestment of PSUs despite opposition, protests

Firstpost  

Air India is sitting on a debt pile of around Rs 58,000 crore, besides huge accumulated losses running into thousands of crores. The Narendra Modi-led government is reportedly going ahead with the disinvestment of public sector units like Air India, Bharat Petroleum Corporation Ltd, Container Corporation of India, and The Shipping Corporation of India though there is opposition and criticism …

Key issues yet to be resolved for Air India sale
5 years, 2 months ago

Key issues yet to be resolved for Air India sale

India TV News  

The government has decided to ease terms of sale for Air India but it is still facing tough choice on almost half a dozen issues that could be crucial for the airline's successful disinvestment. The other issues include transfer of additional debt to the special purpose vehicle and use of brand name Air India in future. As much as Rs …

Air India stake sale: Govt likely to float bids next month; some entities express interest in national carrier
5 years, 2 months ago

Air India stake sale: Govt likely to float bids next month; some entities express interest in national carrier

Firstpost  

Air India is sitting on a debt pile of around Rs 58,000 crore, besides huge accumulated losses running into thousands of crores. New Delhi: The government is planning to invite preliminary bids for 100 percent stake sale in Air India next month and already some entities have expressed interest in the national carrier, sources said. Last week, Civil Aviation Secretary …

Government likely to float bids for Air India sale next month
5 years, 2 months ago

Government likely to float bids for Air India sale next month

India TV News  

The government is planning to invite preliminary bids for 100 per cent stake sale in Air India next month and already some entities have expressed interest in the national carrier, sources said. Some entities have already expressed interest in buying Air India, the sources said, adding the Expression of Interest document is being given the final touches. Last week, Civil …

Deals Buzz: Government to invite bids for Air India privatization
5 years, 3 months ago

Deals Buzz: Government to invite bids for Air India privatization

Live Mint  

Mumbai: Mint brings you your dose of the top deals news, reported from newsrooms across the country Government to invite bids for Air India privatization The government will soon invite bids to sell its entire stake in Air India, after potential buyers baulked at an initial attempt to divest a partial stake in the national carrier, Mint reported citing a …

Govt aims to raise ₹15,000 crore by cutting stakes in 18 PSUs to 75%: Report
5 years, 6 months ago

Govt aims to raise ₹15,000 crore by cutting stakes in 18 PSUs to 75%: Report

Live Mint  

New Delhi: India's government aims to raise up to 150 billion rupees by reducing its stake in 18 state firms to 75%, a finance ministry official involved in the matter said on Monday, as it looks to boost revenues and rein in the fiscal deficit. Finance Minister Nirmala Sitharaman set an ambitious target of 1.05 trillion rupees from the sale …

Centre to go ahead with Air India disinvestment; Ministry of Civil Aviation says support from govt has led to improved performance
5 years, 6 months ago

Centre to go ahead with Air India disinvestment; Ministry of Civil Aviation says support from govt has led to improved performance

Firstpost  

The government failed last year in its attempt to sell a 76 percent stake in loss-making Air India due to a lack of interest from bidders but said it would return with an alternative proposal soon New Delhi: The government said on Thursday efforts to sell debt-laden state-run carrier Air India were still on track, hours after a junior minister …

Centre to go ahead with disinvestment process of Air India: Ministry of Civil Aviation
5 years, 6 months ago

Centre to go ahead with disinvestment process of Air India: Ministry of Civil Aviation

India TV News  

Continued support from the government has resulted in an improvement of the financial and operational performances of Air India and the Centre has decided to go ahead with the process of its disinvestment, the Ministry of Civil Aviation said on Thursday. "In an AISAM meeting held on 28th March 2018, it was decided that due to issues like volatile crude …

Finance Minister to prepare fresh proposal for Air India sale
5 years, 6 months ago

Finance Minister to prepare fresh proposal for Air India sale

India TV News  

The Finance Ministry is preparing a fresh proposal for sale of Air India, incorporating issues like crude oil prices and exchange rate volatility, flagged by EY last year on possible reasons of the government failing to attract bidders for the national carrier. The ministry's proposal, to be placed before Air India Specific Alternative Mechanism, will also include option of selling …

Air India deal to be sweetened further with 100% stake offer
5 years, 7 months ago

Air India deal to be sweetened further with 100% stake offer

Live Mint  

New Delhi: Moving at jet speed, the two-stage bid process for selling of entire 100% equity stake in national carrier Air India could kickstart as early as 7 July. Multiple sources said that selling of Air India is the unfinished agenda of the previous government and now that they have made a comeback, the deal would be concluded this time. …

Air India deal to be sweetened further, PIM likely by July 7
5 years, 7 months ago

Air India deal to be sweetened further, PIM likely by July 7

The Quint  

By Nirbhay Kumar New Delhi, June 4 Moving at jet speed, the two-stage bid process for selling of entire 100 per cent equity stake in national carrier Air India could kickstart as early as July 7. "Besides offering 100 per cent stake to private investors, more loans of the airline would be transferred to the special purpose vehicle in order …

Govt eyes about ₹7,000 crore from Air India sale
6 years ago

Govt eyes about ₹7,000 crore from Air India sale

Live Mint  

New Delhi: The government is eyeing around $1 billion from the sale of national carrier Air India in the next financial year, a government official said. In November last year, a ministerial panel headed by Finance Minister Arun Jaitley had approved transferring ₹ 29,000 crore debt to a special purpose vehicle -- Air India Asset Holding Company. After a botched …

Air India privatisation: Govt to initiate disinvestment process in FY 2020, eyes around $1 billion from sale
6 years ago

Air India privatisation: Govt to initiate disinvestment process in FY 2020, eyes around $1 billion from sale

Firstpost  

New Delhi: The government is eyeing around $1 billion from the sale of national carrier Air India in the next financial year, a government official said. In November last year, a ministerial panel headed by finance minister Arun Jaitley had approved transferring Rs 29,000 crore debt to a special purpose vehicle – Air India Asset Holding Company. After a botched …

Govt chalks out fresh plan for Air India sale
6 years ago

Govt chalks out fresh plan for Air India sale

Live Mint  

New Delhi: The government raised a record ₹ 77,417 crore from sale of its stake in public sector units in 2018, and the disinvestment programme is headed for another blockbuster year in 2019 with planned privatisation of national carrier Air India. While big-ticket disinvestments, including ONGC’s acquisition of HPCL, CPSE ETF, Bharat-22 ETF, and Coal India stake sale, along with …

Govt to sell Air India arm in last ditch effort to save the national carrier
6 years, 1 month ago

Govt to sell Air India arm in last ditch effort to save the national carrier

Live Mint  

In a last-ditch effort to salvage Air India, a government panel on Tuesday decided to sell the national carrier’s ground handling arm and use the proceeds to pare its massive debt burden. Although the money raised through the sale will be used to cut Air India’s debt, it will still help free up government resources that would otherwise have been …

Air India gets fresh fund infusion from Centre; why govt is unwilling to get out of airline business
6 years, 4 months ago

Air India gets fresh fund infusion from Centre; why govt is unwilling to get out of airline business

Firstpost  

Disinvestment of Air India has obviously been too tough to handle. So why not break up the airline – as was envisaged earlier – and at least sell-off in parts It is now clear that the government is unable or unwilling to disinvest Air India, since it has begun talking of a revival package and tranches of funds’ infusion into …

Air India disinvestment will not happen 'immediately, not in near future', says govt official to Parliamentary panel
6 years, 4 months ago

Air India disinvestment will not happen 'immediately, not in near future', says govt official to Parliamentary panel

Firstpost  

The proposed strategic stake sale of debt-laden Air India failed to take off in May and the government is now working on ways to revive the fortunes of the airline. New Delhi: The disinvestment of loss-making Air India will not happen in “near future”, a senior government official today told a Parliamentary panel, according to sources. The Parliamentary Standing Committee …

Air India stake sale: Govt on 'wait and watch' mode for next three-four months, says union minister Nitin Gadkari
6 years, 6 months ago

Air India stake sale: Govt on 'wait and watch' mode for next three-four months, says union minister Nitin Gadkari

Firstpost  

The government’s proposed stake sale in Air India failed to attract any initial bidder when the deadline for bidding ended on 31 May New Delhi: The government has decided to “wait and watch” for the next three-four months before taking a call on disinvestment of national carrier Air India due to prevalent market condition especially high fuel prices, Union Minister …

Govt has done what it had to with 'utmost sincerity' for Air India: PM Modi
6 years, 6 months ago

Govt has done what it had to with 'utmost sincerity' for Air India: PM Modi

India TV News  

Prime Minister Narendra Modi has said that the government has done what it had to with "utmost sincerity" for Air India. The government has cleared sale of Air India and several other loss-making public sector companies but that they are yet to be sold is the "result of timing and process, Modi said. Under the proposed plan, the government was …

Discover Related