Air India’s market share plunged to an all-time low of 11.8% in September even as the government-owned carrier grapples with a financial crunch, reports Arun Nayal in New Delhi. In January 2014, the carrier commanded a share of 19.8%. Although the domestic passenger market is growing at robust pace, the near-bankrupt Air India has slipped to the number four position behind low-cost carrier Spicejet, which repo-rted a 12% market share.

The Enforcement Directorate (ED) is probing the merger of Air India and Indian Airlines and the acquisition of 111 aircraft for alleged money-laundering during the UPA-1 era, The Indian Express reported on Saturday. The ED probe has come more than a year after the Central Bureau of Investigation (CBI) began investigating the deals.

Financially-stressed full-service airlines in the country are slashing their sales and distribution costs by renegotiating contracts, but such measures could compromise their market reach.

On Sunday, state-owned Air India selected UK-based Travelport as its exclusive ticket-distribution service provider in the country.

A 53-year-old air hostess suffered serious injuries after falling off an Air India aircraft which was getting ready for departure for New Delhi from the Chhatrapati Shivaji International Airport here, a source said on Monday.

The incident happened on Air India flight AI 864 operating on Mumbai-Delhi route, according to the airline source.

MUMBAI: A Dubai-bound Air India Express Boeing 737 aircraft was diverted to Mumbai for an emergency landing hours after it was discovered that the underside of the plane had been badly scraped when it hit the airport compound wall while taking off from Trichy.

Although the plane was damaged and the wall broke when the wheels of the aircraft rammed into it during take-off, the pilot continued to operate the plane saying the systems were operating normally.

A Dubai-bound Air India Express flight with 133 people on-board brushed against a wall at the airport Friday, officials said.

All passengers are safe.

The plane lost contact with air traffic control officials and landed in Mumbai after around four hours, they said.

The Centre is likely to finalise a revival package for the ailing Air India in a month, a top official of the Civil Aviation Ministry said on Tuesday assuring “need-based” support to the debt-laden carrier.

Civil Aviation Secretary, RN Choubey also said the safety audit that the Director General of Civil Aviation ordered on domestic airlines “did not find any backlog of any safety steps that they should have taken.”

State oil marketing companies have stepped up pressure on Air India, threatening to suspend supplies in case of default.

On Monday, the Indian Oil Corporation threatened to snap supply at eight airports over pending dues. However, supply was not discontinued, as the airline made a payment of Rs 1 billion. Air India group companies uplift fuel around Rs 220-230 million daily and the amount has risen over last couple of weeks because of increase in fuel prices.

The Centre will soon announce a fresh turnaround plan (TAP) for Air India that will include transfer of the carrier’s working capital debt of Rs 30,000 crore or 62% of the total debt and non-core assets to a special purpose vehicle as well as an additional Rs 2,056-crore capital support in FY19. Given that AI had borrowed Rs 48,447 crore with an average interest cost of nearly 9%, the debt transfer from its books would give nearly Rs 2,700-crore annual relief to the loss-making carrier from the next financial year.

New Delhi: The government is likely to finalise a revival package for debt-laden Air India in 10 to 15 days, a senior official said on Thursday.

Earlier this year, efforts for strategic disinvestment of the airline failed to take off. The national carrier is estimated to have a debt burden of more than Rs 50,000 crore.

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