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DPIIT, aviation ministry exploring options to ease FDI norms to attract bidders for Air India
Posted on 28th October 2019
The Department for Promotion of Industry and Internal Trade (DPIIT) and the civil aviation ministry are looking at the possibility of relaxing foreign direct investment norms to attract bidders for national carrier Air India, an official said. The government for long has been trying to sell debt-ridden Air India but could not attract bidders. It has now again decided to call bids for sale next month.

Piling up: Air India debt rises Rs 5,000 crore in H1
Posted on 23rd October 2019
The total debt and liabilities of Air India (AI) have risen to over Rs 45,500 crore at September end, up Rs 5,000 crore from the level seen after the April takeover of its Rs 29,464-crore debt by the Centre through a special purpose vehicle, sources told FE.

The increase over the first half of this fiscal is largely due to short-term loans, an official source said. At the end of last financial year, the state-run airline’s debt had stood around Rs 70,000 crore.

Government likely to float bids for Air India sale next month
Posted on 21st October 2019
The government is planning to invite preliminary bids for 100% stake sale in Air India next month and already some entities have expressed interest in the national carrier, sources said.

The airline is sitting on a debt pile of around ₹58,000 crore, besides huge accumulated losses running into thousands of crores.

Air India lowers debt load
Posted on 18th October 2019
Air India Assets Holding Ltd (AIAHL) has raised another Rs 7,985 crore through the issue of bonds, and the proceeds will be utilised to repay Air India’s debt. This the third fund-raising in little over a month by the entity.

A special purpose vehicle of Air India, AIAHL has mopped up a total of Rs 21,985 crore by way of bond issues since September 16.

Air India Assets Holding raises another Rs 7,985 cr
Posted on 17th October 2019
Raising funds for the third time in little over a month, Air India Assets Holding Ltd (AIAHL) on Thursday raised Rs 7,985 crore through bond sale, which was oversubscribed. A special purpose vehicle of Air India, AIAHL has mopped up a total of Rs 21,985 crore by way of bond issues since September 16 and the proceeds would be utilised to repay debt of the national carrier.

Air India becomes the first to use Taxibot on commercial Airbus flight
Posted on 15th October 2019
Air India on Tuesday became the first airline in the world to use a Taxibot on a A320 aircraft with passengers onboard.

Taxibot is a robot-used aircraft tractor for taxiing an aircraft from parking bay to runway and vice versa.

Air India privatisation: Govt to make national airline debt-free before sale
Posted on 14th October 2019
The Centre will likely make the ailing Air India (AI) virtually debt-free by taking over an additional Rs 20,000 crore from its books before offering it afresh to bidders by the end of this month.

The government had taken over Rs 29,464-crore of AI debt earlier this financial year through a special purpose vehicle (SPV). AI’s assets, largely its fleet of aircraft, are estimated to be about Rs 20,000 crore, equivalent to the residual debt to be taken over by the prospective buyer, along with the entire government stake in the airline.

Air India subsidiary Alliance Air to start new flights to Sri Lanka
Posted on 11th October 2019
NEW DELHI : The Civil Aviation Ministry has approved Alliance Air plan to launch foreign operations by starting flights to Sri Lanka even as the airline's parent Air India remains on top of the government's disinvestment agenda.

The move has triggered speculation among Air India employees that government may continue in airline business by not selling Alliance Air.

Air India to introduce Mumbai-Amritsar-Stansted flight from 31 Oct
Posted on 10th October 2019
CHANDIGARH : National carrier Air India will launch thrice-weekly flights on the Mumbai-Amritsar-Stansted (United Kingdom) route from October 31 to mark the 550th birth anniversary of Sikhism founder Guru Nanak Dev, a senior official said on Thursday.

Air India Assets Holding eyes Rs 7,000 crore via NCDs
Posted on 9th October 2019
Air India Assets Holding (AIAHL), a special purpose vehicle formed by the government of India to acquire the non-core assets of Air India (AIL) and its subsidiaries among other things, is set to hit the non-convertible debentures (NCD) market on Thursday to raise upto Rs. 7,000 crore through 10-year paper, bond dealers said.

The proceeds of the NCDs will be used by AIAHL to refinance the loans availed by AIL. The issue will be open for bids on Thursday.

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