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Air India debt

Govt starts process to privatising 2 subsidiaries of Air India

Govt starts process to privatising 2 subsidiaries of Air India

Tue, Sep 20, 2022

A debt-laden Air India was sold to Tata Group in October last year for Rs 18,000 crore. The actual handover to Tatas happened on January 27, 2022.

Air India privatisation saga: 'Time we stopped paying Rs 20 cr/day of taxpayers money to keep it flying'

Air India privatisation saga: 'Time we stopped paying Rs 20 cr/day of taxpayers money to keep it flying'

Sun, Oct 17, 2021

Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. Earlier this month, the government had accepted an offer by Tata group to pay Rs 2,700 crore cash and takeover Rs 15,300 crore of the airline's debt.

Air India revives plans to raise Rs 500 cr; to mop up Rs 6,100cr from Aircraft sale and lease back

Air India revives plans to raise Rs 500 cr; to mop up Rs 6,100cr from Aircraft sale and lease back

Tue, Nov 20, 2018

Debt-ridden Air India has revived its plans to raise Rs 500 crore in short-term loans (STLs) besides mopping up another Rs 6,100 crore by way of sale and lease back of seven of its wide-body planes, including six Boeing 787 (Dreamliner) aircraft, an airline official said.

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Government not to sell Air India, if bids are below minimum floor price: Officials

Government not to sell Air India, if bids are below minimum floor price: Officials

Tue, May 22, 2018

The central government might not sell its stake in the ongoing divestment process of the national passenger carrier Air India, if bids do not meet a minimum threshold value or floor price estimated for the airline.

NITI Aayog says it's 'unviable' to support Air India: Govt

NITI Aayog says it's 'unviable' to support Air India: Govt

Wed, Jan 03, 2018

The government's premier policy advisory body NITI Aayog has said in its report on the debt- laden Air India that it was "unviable" to provide financial support to the national carrier, the Centre told Parliament today. Air India has a debt of Rs 51,890 crore.

Air India: No formal interest from Tatas, clarifies Sinha

Air India: No formal interest from Tatas, clarifies Sinha

Sat, Dec 02, 2017

The comment of the Union minister of state for civil aviation sought to clear the air after he told a television news channel yesterday that there were indications of interest from the Tatas for Air India.

Air India gets Rs 1,500 crore loan from Bank of India

Air India gets Rs 1,500 crore loan from Bank of India

Sun, Nov 12, 2017

Battling multiple headwinds, the disinvestment-bound airline has been working on ways to reduce its debt, including by way of selling non-core assets and expanding operations.

Now, Air India looks for Rs 1,500 crore short term loans

Now, Air India looks for Rs 1,500 crore short term loans

Fri, Oct 20, 2017

This is the second time in little over a month that the flagship carrier has floated tenders for short tenure loans even as the government is working on the modalities for the stake sale.

Government invites bids for advisers on Air India's divestment

Government invites bids for advisers on Air India's divestment

Fri, Sep 15, 2017

According to two separate notices on the Department of Investment and Public Asset Management`s website, the proposal for advisers have been invited to guide the government on financial and legal issues associated with the strategic disinvestment.

Air India delays payment of July salaries

Air India delays payment of July salaries

Fri, Aug 04, 2017

Air India has delayed the payment of salaries for the month of July to its employees, an airline official said, amid the government working on the modalities for divesting stake in the national carrier. The airline, which has been in the red for long, has around 21,000 employees.

Air India disinvestment: Group of Ministers holds first meeting

Air India disinvestment: Group of Ministers holds first meeting

Fri, Jul 21, 2017

The Cabinet Committee on Economic Affairs late last month gave its in-principle approval for disinvestment of Air India.

Union Cabinet gives in-principle approval for Air India disinvestment

Union Cabinet gives in-principle approval for Air India disinvestment

Wed, Jun 28, 2017

On June 5, 2017 Finance Minister Arun Jaitley said that the government should have exited the airline more than a decade ago.

Cabinet to take a call on Air India, says Jayant Sinha

Cabinet to take a call on Air India, says Jayant Sinha

Tue, Jun 20, 2017

According to the Minister of State for Civil Aviation, inter-ministerial consultations on the future of the airline have been completed and "are being summarised and presented" to the Union cabinet.

Air India's privatisation very difficult without debt write-off, says Niti Aayog's Vice Chairman Arvind Panagariya

Air India's privatisation very difficult without debt write-off, says Niti Aayog's Vice Chairman Arvind Panagariya

Fri, Jun 02, 2017

Niti Aayog's vice chairman Arvind Panagariya said on Friday that privatising government-run airline Air India will be "very difficult" unless the government writes off at least part of its debts.

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