Modi considers easing foreign control rule to aid Air India sale

By Shruti Srivastava India is considering amending a rule to allow overseas control of local airlines, according to a person familiar with the matter, which may help its indebted national carrier lure a foreign suitor after multiple failed attempts for a sale. At a meeting in early November, India’s Department for Promotion of Industry and … Read more Modi considers easing foreign control rule to aid Air India sale

Sweden King, Queen Take Air India Flight After Their Plane Develops Snag

Swedish King Carl XVI Gustaf and Queen Silvia reached Delhi on a 5-day state visit to India. New Delhi: Air India airlines chipped in to ferry Swedish King Carl XVI Gustaf and Queen Silvia on their state visit to India when their aircraft developed a technical snag at the last minute. The Royal couple, who … Read more Sweden King, Queen Take Air India Flight After Their Plane Develops Snag

Forex Rate Variation Led To Rs 4,685 Crore Loss For Air India: Centre

ATF costs increased from Rs 7,363 crore in 2017-18 to Rs 10,034 crore in 2018-19: Hardeep Singh Puri New Delhi: Increase in fuel costs and impact of foreign exchange rate variation were two major reasons for Air India’s operating loss of Rs 4,685 crore in 2018-19, Civil Aviation Minister Hardeep Singh Puri said on Thursday. … Read more Forex Rate Variation Led To Rs 4,685 Crore Loss For Air India: Centre

Modi considers excluding $7 billion Air India debt to lure buyers

By Siddhartha Singh India is considering a plan to exclude more than half of Air India Ltd.’s $11 billion of debt in the government’s latest attempt to lure investors to the struggling carrier, people with knowledge of the matter said. Prime Minister Narendra Modi’s administration plans to ask proposed investors to take over Rs 30,000 … Read more Modi considers excluding $7 billion Air India debt to lure buyers

Lufthansa Plans To Bolster Ties With Indian Airlines After Jet’s Demise

Lufthansa has a codeshare agreement with Air India. New Delhi:  With Jet Airways shutting down in April, the Lufthansa airline group is planning to “strengthen” its partnership with Indian airlines like Vistara and Air India in 2020, the top Indian official of the largest European carrier said. Moreover, apart from launching a Munich-Bengaluru flight service … Read more Lufthansa Plans To Bolster Ties With Indian Airlines After Jet’s Demise

After Jet Airways’ demise, Lufthansa plans to ‘strengthen’ partnerships with Indian airlines

NEW DELHI: With Jet Airways shutting down in April, the Lufthansa airline group is planning to “strengthen” its partnership with Indian airlines like Vistara and Air India in 2020, the top Indian official of the largest European carrier said. Moreover, apart from launching a Munich-Bengaluru flight service in April, the airline does not plan to … Read more After Jet Airways’ demise, Lufthansa plans to ‘strengthen’ partnerships with Indian airlines

Market ready for consolidation with some downside: Sandip Sabharwal

We are at a stage where globally the US market is zooming up. That is supporting all the other markets but in terms of economic performance, there is still a question mark, says Sandip Sabharwal, asksandipsabharwal.com. Excerpts from an interview with ETNOW. Telecom stocks are likely to see action today. Last Friday, telecom stocks recovered … Read more Market ready for consolidation with some downside: Sandip Sabharwal

People from many industries are coming to us and saying they are out of distress: Nirmala Sitharaman

The government’s measures are beginning to show results, finance minister Nirmala Sitharaman tells Sidhartha, Surojit Gupta & Rajeev Deshpande in an exclusive interview. Bank balance sheets are better, lending is improving and NBFCs are back in business. Excerpts… What is the impact of several measures taken by the government and your assessment of the economy?We … Read more People from many industries are coming to us and saying they are out of distress: Nirmala Sitharaman

Air India, Bharat Petroleum Sale By March, Says Finance Minister Nirmala Sitharaman: Report

For Air India, there is a “lot of interest” among investors, Nirmala Sitharaman said. New Delhi:  Air India and Bharat Petroleum Corporation, two debt-ridden state-owned companies, are expected to be sold by the government by March next year, Finance Minister Nirmala Sitharaman said in an interview with The Times of India. The Finance Minister’s statement … Read more Air India, Bharat Petroleum Sale By March, Says Finance Minister Nirmala Sitharaman: Report

Air India, Bharat Petroleum Corporation to be sold by March: FM Nirmala Sitharaman

NEW DELHI: The government is looking to wrap up the sale of state-run airline Air India and oil refiner and marketer Bharat Petroleum Corporation (BPCL) by March, finance minister Nirmala Sitharaman said on Saturday. “We are moving on both with the expectation that we can complete them this year. The ground realities will play out,” … Read more Air India, Bharat Petroleum Corporation to be sold by March: FM Nirmala Sitharaman

Alliance Air maiden overseas flight commences operations

CHENNAI: After a 41 year gap Alliance Air on Monday formally commenced its maiden international operations on the Chennai-Jaffna route by launching its thrice a week service. The wholly owned subsidiary of Air India would fly between the two cities on Mondays, Wednesdays and Saturdays. Alliance Air connects 53 destinations within India with 113 destinations … Read more Alliance Air maiden overseas flight commences operations

View: How the Modi govt can sell stake in PSUs one step at a time

By Sandeep Parekh After nearly two decades of attempts at privatisation, just a handful of companies have been truly privatised. Many of those handful have been mired in litigation, not just because labour protested, but because there were more than whispers of crony capitalism. The conspiracy theories were even murkier than the reality, making privatisation … Read more View: How the Modi govt can sell stake in PSUs one step at a time

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