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.
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.
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.
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
Passengers can book the tickets--for the train as well as the flight--starting on December 5 on the Maharajas' Express website.
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.
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.
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.
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.
'The 179 passengers could disembark from the plane on a mobile staircase and thereafter enter the terminal,' police wrote in a statement.
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.
Proceeds from the sale of AIATSL would be used to pay-off part of Air India's debt.
The petitioner said that it is practically impossible for travel agents to complete the migration process before December 4.
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
Air India took the decision to shift to a single global distribution system despite strong objections made by three top officials.
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.
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".
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.
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.
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.
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.
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.
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.
It is the second time Arvind Kathpalia, who is also on the loss-making airline's board, has been in trouble over alcohol tests.
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.