IndiaCatalog.com
India News
Search Web Directory
News Home
Govt to go ahead with Air India strategic divestment
Posted on 9th January 2018
NEW DELHI: The government will push ahead with the stake sale in Air India and hopes to wrap up the transaction by June, according to government sources.

The Union Cabinet gave an in-principle approval for Air India's strategic disinvestment in June last year and a panel of ministers headed by FM Arun Jaitley is now devising the strategy for executing the sale. Tata Group, which runs two JV airlines in India, IndiGo and Jet Airways are among the Indian carriers who may bid for Air India. Some foreign airlines have also expressed interest informally.

"Transaction advisers have been appointed. We will complete the process by June," said an official, who did not wish to be identified. The latest comments come against the backdrop of a move by a Parliamentary panel, which is likely to recommend that Air India be given five years to revive and its debt be written off.

The Parliamentary Standing Committee on transport, tourism and culture has concluded that the government should review its decision to privatise or disinvest Air India and explore the possibility of "an alternative to disinvestment of our national carrier which is our national pride", a news agency has reported. Disinvestment of Air India gathered pace after the NITI Aayog recommended up to 100% stake sale, along with writing off its debt. PM Narendra Modi is keen to ensure a strategic disinvestment in the loss-making airline.

The government is weighing several options to deal with the large debt pile of the airline. The NITI Aayog, in its recommendations, had detailed a road map for Air India's stake sale, which includes writing off loans to the tune of Rs 30,000 crore.

AI has debt of around Rs 60,000 crore, which includes around Rs 21,000 crore of aircraft-related loan and around Rs 8,000 crore working capital loan, according to estimates.

Related Companies: Air India   

Other Latest News
Hindustan Petroleum Corp enters into a long-term agreement with HMEL
Posted on 22nd September 2018
Hindustan Petroleum Corporation (HPCL) on Friday entered into a long-term agreement with HMEL (HPCL-Mittal Energy) for operations and maintenance of its newly-commissioned bitumen terminal at Bathinda.

HMEL recently set up a bitumen blowing unit with a capacity of 550 million tonne per annum different grades of bitumen plant at Guru Gobind Singh Refinery, Bathinda. The agreement is for storing, handling and dispatching the product.


Amazon India to soon sell cow urine and dung based soaps, face packs made by RSS-backed centre
Posted on 22nd September 2018
Soaps, face packs, shampoos and medicinal products made from cow urine and dung may soon be just a click away as an RSS-backed centre says it is set to sell these on e-commerce major Amazon India.

Deen Dayal Dham, a centre run by the RSS in Farah town of Mathura in Uttar Pradesh, will first put up a dozen products related to health, beauty and apparel on the website for sale, a manger at the centre said.


Sensex witnesses flash crash
Posted on 22nd September 2018
Mumbai: The shares of housing finance companies (HFC) and other financial service firms were battered badly on Friday causing a flash crash on the domestic bourses as rumours about default by certain entities amidst rising delinquencies and cost of capital triggered panic selling in the market.

Infosys to offer cloud solutions to global enterprises on Google Clouds
Posted on 22nd September 2018
Software major Infosys would offer scalable services and solutions on demand to global enterprises on search engine's Google cloud platform, the IT major said on Saturday.

"We are partnering with Google to develop cloud transformation and migration services for enabling enterprises transform their businesses on scalable and on-demand model," said the city-based company in a statement.


RIL closes KG-D6 oilfield
Posted on 22nd September 2018
Reliance Industries has permanently shut down its only oilfield (MA field) in the KG-D6 block on the back of dwindling output from the reserve. This was the company’s first foray into oil and gas exploration that began in September 2008 when the field started producing oil.

“The MA (D26) field in Block KG-DWN-98/3 (KGD6), which is being operated by RIL as an operator of the joint venture consisting of RIL (60 per cent), BP (30 per cent) and Niko (10 per cent)


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Govt to go ahead with Air India strategic divestment
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Govt to go ahead with Air India strategic divestment

Most Read News

Sebi approves KYC norms for FPIs, new settlement mechanism

Infosys loses arbitration case against Rajiv Bansal over severance package

Maruti Suzuki stock slides 2.3% to hit 10-month low

Imran Khan writes to PM Modi, seeks Swaraj-Qureshi meet in New York

SBI in international bond market to raise nearly $500 mn in green bonds

More India News

Photo Gallery

Pataas(10 Images) Pataas
Ki & Ka(11 Images)Ki & Ka
Janatha Garage(11 Images) Janatha Garage
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement