Government to sell 100% stake in Air India
NEW DELHI: The government of India has decided to sell its entire 100 per cent stake in Air India under the proposed disinvestment process, Union minister Hardeep Singh Puri said on Thursday. The national carrier, which has a debt burden of more than Rs 50,000 crore, has been making loss for long and as part […]
No interest in buying stake in Air India, only IndiGo: Qatar Airways
NEW DELHI: Qatar Airways has no interest in buying a stake in Air India, its CEO said on Thursday, as the government plans roadshows in Singapore and London to entice investors for the Indian national carrier”s disinvestment. Qatar Airways CEO Akbar Al Baker added that he is interested in buying a stake in IndiGo but […]
Air India starts Mumbai-Amritsar-Stansted flight
AMRITSAR:National carrier Air India on Thursday launched a thrice-weekly flight between Mumbai and Stansted in UK via Amritsar, officials said. Starting in Mumbai, the flight will connect Amritsar to Stansted to facilitate Sikh pilgrims to visit the holy city on the occasion of the 550th birth anniversary of Sikhism founder Guru Nanak. It will operate […]
Air India seeks $819 million loan for 7 Boeing planes
NEW DELHI: Air India is looking to raise USD 819 million (over Rs 5,800 crore) to refinance existing bridge loans availed for six Boeing 787 and one Boeing 777 aircraft. The national carrier is yet to have long term financing facility for six B787 and B777-300ER, according to a tender document. Bids have been invited […]
Oil companies say Air India not paying Rs 100 crore a month, threaten to snap supply
NEW DELHI: State-owned oil companies on Tuesday accused Air India of not honouring its commitment to pay Rs 100 crore every month to clear overdue ATF outstanding of over Rs 5,000 crore and will be forced to snap supplies at major airports from Friday if no solution is offered. “Air India had back in June […]
India plans to sell BPCL, Concor, Air India by March 2020: Report
NEW DELHI: India aims to sell two or three state-owned firms to local or foreign firms to raise up to Rs 60, 000 ($8.5 billion) by March 2020, a senior Finance Ministry official said on Monday. The government planned to sell Bharat Petroleum Corp Ltd, logistics firm Container Corp of India Ltd and debt-laden Air […]
Air India’s monthly fuel bill might rise by Rs 50 crore after Aramco attack
NEW DELHI: Air India’s monthly fuel bill might rise by at least Rs 50 crore if the crude oil prices continue to surge in the wake of drone attacks on oil facilities in Saudi Arabia, a senior airline official said on Monday. The national carrier’s fuel bill every month is around Rs 500 crore. According […]
Air India posts Rs 4,600 crore operating loss in 2018-19; aims operating profit this fiscal
NEW DELHI:Air India posted an operating loss of around Rs 4,600 crore in the last financial year mainly due to higher oil prices and foreign exchange losses but the debt-laden carrier expects to turn operationally profitable in 2019-20, according to senior officials. Reflecting tough business conditions, the airline’s net loss stood at about Rs 8,400 […]
Oil companies likely to resume fuel supply to Air India at six airports
NEW DELHI: Oil marketing companies (OMCs) are likely to resume fuel supply to Air India within two days at the six airports where it has been stopped over non-payment of dues, a senior government official said on Wednesday. The state-owned OMCs stopped supplying fuel to Air India flights in Pune, Vizag, Cochin, Patna, Ranchi and […]
OMCs warn Air India of stopping supply at 2 more airports over unpaid bills
NEW DELHI: Flight services of flag carrier Air India, including those for Haj pilgrimage, might be hit partially following the IOC-led oil marketing companies (OMCs) threatening to suspend fuel supplies at two more airports — Hyderabad and Raipur– over non-payment of dues. The state-owned oil marketing firms have already stopped supplying fuel to Air India […]
Air India New Delhi-San Francisco flight to fly over North Pole
NEW DELHI: Marking a new aviation milestone, the Air India (AI) on Monday announced its inaugural passenger flight over the North Pole region from August 15 between New Delhi and San Francisco. The first commercial service will be operated by Captain Ranjeesh Sharma and Captain Digvijay Singh, marking the “maturing of civil aviation in India […]
Air India to launch direct Khajurao-New Delhi flight
NEW DELHI: Disinvestment-bound national carrier Air India plans to connect directly international tourist destination Khajurao with a daily flight from New Delhi, starting October. At present, the airline operates services to the temple town in Madhya Pradesh via Varanasi and Agra three times a week. “We will be rescheduling the existing Khajuraho flight from October […]
Pakistan closes a corridor of its air space, Air India says won’t affect us much
NEW DELHI: Pakistan has closed a corridor in its airspace, which will result in an additional up to12 minutes of flying time for overseas flights, an Air India official said on Wednesday. The flights will have to be diverted to other routes due to the closure, the official said. “One air corridor has been closed […]
Air India Express posts Rs 169 crore profit in 2018-19
NEW DELHI: Air India Express on Tuesday reported a 35 per cent slump in net profit at Rs 169 crore in the year ended March 2019, mainly on account of higher costs, even as it remained profitable for the fourth straight year. In 2017-18, the carrier had posted a net profit of Rs 262 crore. […]
Air India stops promotions, appointments as government prepares to sell stake
NEW DELHI: Air India has stopped giving promotions for its employees and recruiting new personnel as the government of India prepares for the disinvesment of the debt-laden airline, an official, who did not wish to be named, said on Sunday. The government is expected to soon start the disinvesment process for Air India, which has […]
Air India to restart Delhi-Amritsar-Birmingham flight
NEW DELHI: The tri-weekly Delhi-Amritsar-Birmingham Air India flight would resume services on August 15, said Civil Aviation Minister Hardeep Singh Puri on Wednesday after Pakistan opened its airspace for civilian planes. Pakistan had shut its airspace in February after the Balakot strike by the Indian Air Force, resulting in a significant rise of Air India’s […]