AIR INDIA BAILOUT
Singapore government won’t interfere in decisions on Air India
In a decisive stance, Singapore's government has stated it will not step into Singapore Airlines' investment decisions concerning Air India. Senior Minister K Shanmugam highlighted that upholding commercial discipline is crucial. Air India is pursuing one billion dollars from its parent companies, Tata Sons and Singapore Airlines, with financial backing tied to meeting specific operational benchmarks, especially in light of recent setbacks and geopolitical instability.
A plane plan for China to consider: Singapore opposition slams Temasek over Air India bailouts
Air India faces mounting losses and requests for additional funds from its shareholder. The airline is grappling with high fuel prices and geopolitical conflicts impacting flights. Negotiating airspace access with China and Russia could offer a viable solution. Flying over the Himalayas presents technical challenges but also trade opportunities. These issues collectively impact India's aviation industry and passenger convenience.
Air India’s $1.5 billion funding ask sparks backlash in Singapore parliament
A Singapore politician questions the logic of Singapore Airlines supporting Air India. He opposes using Temasek funds for Air India's turnaround efforts. The politician seeks parliamentary answers on Air India's financial assessment. He stated that Singaporeans do not owe Air India any support. Singapore Airlines should fund its Air India investment independently.
Air India bailout plan not alternative to divestment: CMD
He said discussions are in advanced stage for transferring Rs 29,000 crore out of Air India's near Rs 55,000 crore total debt to a special purpose vehicle (SPV).
Talks on bailout package for Air India at 'advanced stage': Official
Government has been working on a package for Air India after plans to sell a majority stake in the debt-laden airline failed this year due to a lack of interest from bidders.
Air India’s emergency lending: Finance ministry gets Rs 500 crore SOS
The short-term loan will be more or less exhausted in funding commitments other than bank loan repayments.
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Another bailout in the works for Air India
The new plan may include a Rs 30,000 cr loan write-off and a cash infusion of Rs 10,000-11,000 cr.
Government mulls Rs 11,000 crore bailout for Air India
Sources in the know said that the Civil Aviation Ministry is working on a bailout package for the carrier, which would be utilised to reduce high cost working capital loans.
No takers for Air India stake sale: Unions to prepare alternative plan, hold convention soon
The Air India unions, under a common platform - 'Joint Forum', are also likely to hold a convention here soon of all stakeholders associated with the airline to deliberate its turnaround plan.
Air India unions claim 'victory' on govt's failure to attract bids
"No bids for Air India, victory for joint forum in our endeavour to save the airline," a joint forum of various Air India unions said in a statement.
CAPA urges govt for comprehensive restructuring of Air India
CAPA, the Sydney-based aviation think-tank, also said dropping the divestment plan following this failure will be unfortunate, and the government should go for complete privatisation with much easier norms.
Air India employees protest against airline's privatisation
The civil aviation ministry is seeking expression of interest (EoI) from potential bidders for a 76 per cent stake sale in the loss-making carrier.
Flexibility needed if Modi wants to get Air India & its debt off its back: Mohnish Pabrai
Pabrai believes Air India needs to be reconfigured to play to its strength.
Government wants Air India disinvestment to be completed 'fast': Civil Aviation Secretary R N Choubey
As part of efforts to revive the debt-laden Air India, which has been in the red for long, the government is working on the contours of its strategic disinvestment.
Air India plans to take Rs 3,250 crore loans for 'urgent' capital needs
The disinvestment-bound airline, which is staying afloat on taxpayers' funds, expects to get the central government's guarantee for the proposed borrowings shortly.
Salaries delayed at AI; airline says to be released tomorrow
The salaries for the month of July are delayed. There is no official word on the delay. Now, the salaries are expected to be paid next week, the airline official said.
Air India privatisation welcome but clear salary dues first: Pilots
Facing tough financial conditions, Air India had resorted to salary cuts in 2012. Since then, arrears have been accumulating even as certain section of employees accepted revised pay scales.
AAI rejects AI plan to convert Rs 2,000 crore dues into equity
Air India, which is staying afloat on taxpayers' money, owes around Rs 2,300 crore to the national airports operator.
Air India likely to induct 34 planes in two years
Some of the A320 neo planes, which are being leased would replace the old classic A320 aircraft under the phase out plan.
Air India eyes Rs 300 crore operating profit this fiscal
Air India's board at its meeting here today discussed and approved the carrier's Budget for the next financial year.
Air India expected to post improved profit for 2016-17: Govt
Air India has been constantly improving its operational as well as financial performance, Minister of State for Civil Aviation Jayant Sinha said in a written reply in Rajya Sabha.
Air India to add 35 new planes this year, says Ashwani Lohani
Emphasising that the "battle has just begun" in terms of revival, Lohani said Air India needs to be competitive in fares with attractive schemes.
PMO seeks detailed performance report of Air India
The proposal to increase retirement age from the current 58 years to 60 years and its request for more funds for the current fiscal are also expected to be discussed.
Air India reduces debt by Rs 5,000 crore last fiscal
A fall of nearly 31 per cent in fuel costs in the last financial year compared to the year-ago period was a key factor in the airline becoming operationally profitable.
Rs 30,000-cr life jacket for Air India, but will it stay afloat?
Many have wondered if such a huge bailout was at all essential to keep the beleaguered national carrier in biz
Air India needs bailout: Praful Patel
Air India needs a bailout of nearly 620 million dollars to keep flying, Civil Aviation Minister Praful Patel said in remarks published Monday, in which he added he was certain the loss-making airline would survive.
Air India can take lessons from the Alitalia fiasco
Alitalia, once one of the largest airlines of the world, has been ruined largely due to the Italian govt's faulty interventions.
Govt extends support to Air India but says no blank cheque
PM Manmohan Singh assured AI that govt would put its entire weight behind it but the airline should shape up by becoming leaner and trimmer. Boeing's 787 Dreamliner
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