Air India Finally Has a Chance to Lose the Baggage: Gadfly

Air India Maharaja on the auction block as govt invites Expression of Interest to sell 76% stake

Earlier on Wednesday, the government had announced its plan to sell 76 percent stake in Air India in a preliminary information memorandum released on strategic disinvestment of the national carrier. Also, with around 37.6 per cent of the permanent employees of Air India - and almost 16 per cent of them at Air India Express Limited - expected to retire in the next five years, as pointed out in the Memorandum, the government is reportedly hoping that the new owner decides on a voluntary retirement scheme or VRS, with terms on par with their current service agreement.

The central government owns 100 per cent equity of Air India. Failing that, they ask that Air India flights that overpass Saudi Arabia be banned. The Minister of State for Civil Aviation added that the government will cede all control of the airline and keep only a residual stake. Air India employees have also been permitted to participate as bidders either directly or by formation of an "employee consortium" subject to relevant conditions.

One of the crucial assets that Air India offers its new owners in this era of constrained airport infrastructure is 3,739 domestic slots for arrival and departures at local airports and 2,543 global slots for arrivals and departures at both Indian and worldwide airports.

It mentions that the ownership - after the sale - must remain with Indian nationals. "The passengers were offloaded to carry out the security drills", Deputy Commissioner of Police Sanjay Bhatia said.

Shanghai crude oil futures jump more than 6%
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Brazil are better but will still miss Neymar - Germany winger Leroy Sane
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Russian shopping mall fire kills at least 53; more missing
The Kremlin issued a statement saying Mr Putin "expressed his deep condolences to the relatives and loved ones of those who died". People mourn the victims of a shopping mall fire at a makeshift memorial in the Siberian city of Kemerovo, Russia March 26, 2018.

Along with IndiGo, aviation industry majors SATS, Bird Group and Celebi have shown interest in buying Air India's ground handling unit.

On the plan to divest stake in Air India, Sinha said the government will be absorbing some debt in a holding company that will be created for the goal.

The Israeli Tourism Ministry has provided Air India with a grant to market its new route as part of a campaign to encourage Indian tourism in Israel.

India's biggest airline, IndiGo, has expressed unsolicited interest in. What happens on 28th May, when qualified interested bidders are invited to the second stage of bidding is anyone's guess.

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