December 13, 2018 03:31 PM IST
In a reply to a question in the Lok Sabha, Minister of State for Civil Aviation Jayant Sinha said there is an outstanding amount of Rs 1,000.62 crore receivable by Air India Limited for Special Extra Section Flight (SESF) flights from the Ministry of External Affairs, Ministry of Defence and the Ministry of Home Affairs.
December 07, 2018 05:59 PM IST
With over Rs 55,000 crore debt its its books, Air India management has been trying to pare burden by monetising non-core real estate properties.
December 07, 2018 02:04 PM IST
Passengers can avail this option after the check-in roster is prepared. The airport manager would allocate vacant business class seats during boarding depending on top bids.
December 06, 2018 06:40 PM IST
The government has geared up to revive the airline that sits on accumulated losses of Rs 30,000 crore and has unpaid debt of over Rs 55,000 crore
December 05, 2018 08:36 PM IST
Passengers can book the tickets--for the train as well as the flight--starting on December 5 on the Maharajas' Express website.
December 03, 2018 05:11 PM IST
The path to recovery is on paper as of now but how long will it take and what are the hidden costs of the measures, are questions yet to be answered of the moment.
December 03, 2018 03:09 PM IST
The sale of land, building and other realty assets is part of the government's plan to trim the Rs 55,000 crore debt burden of Air India as this will make the airline competitive and fetch a better valuation when the government plans strategic sale of national carrier again.
November 29, 2018 08:48 PM IST
Sources said that government has identified the lenders whose debts will be transferred to the SPV, which will be known as Air India Asset Holding Company Ltd.
November 29, 2018 02:02 PM IST
Air India's sell-off process has started by the government deciding to sell in parts. Only if the entire process is completed fast will the benefits accrue to Air India.
November 29, 2018 08:25 AM IST
'The 179 passengers could disembark from the plane on a mobile staircase and thereafter enter the terminal,' police wrote in a statement.
November 28, 2018 09:15 PM IST
Civil Aviation Secretary R N Choubey said the plan was drawn up around 15 to 20 days ago and focuses on about "10 to 12 items" but did not divulge specific details.
November 27, 2018 10:06 PM IST
Proceeds from the sale of AIATSL would be used to pay-off part of Air India's debt.
November 27, 2018 04:03 PM IST
The petitioner said that it is practically impossible for travel agents to complete the migration process before December 4.
November 25, 2018 11:35 AM IST
Air India is reeling under a huge debt burden of over Rs 50,000 crore and the government is planning to sell its non-core subsidiaries of the national carrier
November 20, 2018 06:10 PM IST
Air India took the decision to shift to a single global distribution system despite strong objections made by three top officials.
November 20, 2018 04:14 PM IST
In early September, the airline had invited bids for raising Rs 500 crore through STL to meet its working capital requirements with September 10 as the deadline for submission of bids.
November 20, 2018 09:14 AM IST
In a letter to the Directorate General of Civil Aviation (DGCA), the grouping has also requested for either withdrawal of the vacancy notice or make the terms for recruitment more "equitable".
November 19, 2018 05:40 PM IST
Earlier this year, the government's efforts for strategic disinvestment of Air India failed to take off as no bidders evinced interest when the deadline for initial bids ended on May 31.
November 19, 2018 03:41 PM IST
The government had originally proposed to offload 76 percent equity share capital of the national carrier as well as transfer the management control to a private entity.
November 16, 2018 08:32 PM IST
Speaking at the inaugural edition of Moneycontrol Wealth Creator Awards in Mumbai, Prabhu said that the airline still holds value despite the high debt levels.
November 15, 2018 12:45 PM IST
This fresh bid is a part of the airline's real estate assets monetisation plan approved by the then UPA government in 2012. As per the plan, Air India had to the garner funds to the tune of Rs 5,000 crore between April 2014 and March 2021, with an annual target of Rs 500 crore from FY13 onwards.
November 14, 2018 09:18 PM IST
If the plan is implemented, the national carrier will be left with debt of about Rs 26,000 crore, mostly on account of aircraft loans.
November 14, 2018 01:15 PM IST
The woman, a foreigner allegedly manhandled a cabin crew member in an inebriated state, prompting the airline to file a police case, the official said.
November 12, 2018 08:05 AM IST
It is the second time Arvind Kathpalia, who is also on the loss-making airline's board, has been in trouble over alcohol tests.
November 08, 2018 12:19 PM IST
Air India Air Transport Services Limited (AIATSL), a wholly-owned subsidiary of the national carrier, provides ground handling services to Air India across airports in the country. It has about 5,000 employees, including those on contract.
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