As the lenders not showing much interest, Indian government-owned Air India has extended its $500-million bridge financing offer by one week to July 12. Air India is planning to raise the money to pay for the five Dreamliners, which are to be delivered beginning this month through December. The airline had extended the last date to July 12 from July 5, according to AI sources.
Tag: Air India
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Govt employs 5 experts for cost-cutting measures in AI
As part of its cost-cutting measures in the State-owned carrier Air India, the Union Government on May 27 appointed five experts from different fields as part-time Directors on the Air India Board, including IIM-Ahmedabad professor Ravindra H Dholakia. Union Civil Aviation Minister Ajit Singh appointed them to utilise their specialised skills to help Air India achieve the targets set by the government through its Turnaround and Financial Restructuring Plans, an official release said.
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India opposes EU aviation norms
Even as the European Commission said it might fine Air India and Jet Airways for not sharing emission data, the two Indian airlines remain opposed to the European Union (EU)Â’s emission norms for airlines. EUÂ’s emission trading scheme (ETS) requires airlines to report emission data (for flights within and to/from Europe) and purchase credits in case the emission exceeds capped limits.
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Govt asks IOC to sell ATF at discount to Air India
Media reports indicate that some state-run oil marketing companies (OMCs) agreed to sell aviation turbine fuel (ATF) to the loss-making Air India at a concessional rate at the behest of the government. It is learnt that Indian Oil Corporation (IOC) agreed to sell fuel to Air India at a discount of 8 per cent. Some reports indicate that Air India will be charged Rs 5,300 lowe
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Govt asks IOC to sell ATF at discount to Air India
Media reports indicate that some state-run oil marketing companies (OMCs) agreed to sell aviation turbine fuel (ATF) to the loss-making Air India at a concessional rate at the behest of the government. It is learnt that Indian Oil Corporation (IOC) agreed to sell fuel to Air India at a discount of 8 per cent. Some reports indicate that Air India will be charged Rs 5,300 lowe
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Govt asks IOC to sell ATF at discount to Air India
Media reports indicate that some state-run oil marketing companies (OMCs) agreed to sell aviation turbine fuel (ATF) to the loss-making Air India at a concessional rate at the behest of the government. It is learnt that Indian Oil Corporation (IOC) agreed to sell fuel to Air India at a discount of 8 per cent. Some reports indicate that Air India will be charged Rs 5,300 lowe
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Govt releases Rs 800 cr to Air India
Air India has got Rs 800 crore from the Union Ministry of Civil Aviation. It is the first tranche of the sum assured to Air India this financial year as part of the turnaround plan to infuse equity for the revival of the cash-strapped national carrier. The government reviewed the performance of the airline and is satisfied with the feedback it has received, an official concerned said.
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AI gives 1st priority to PSUs to lease its real estate assets
Air India is to give preference to State-owned enterprises to lease its 1.7-lakh sq ft office in central Delhi's Baba Kharak Singh Marg. AI's decision is part of its programme to monetise real estate assets. The loss-making and debt laden airline had decided in February to monetise its properties spread over India and various parts of the world over the next three years to raise an estimated Rs 5,000 crore, kick starting the process with its city terminal office at Baba Kharak Singh Marg.
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AI’s weekly 3 flights between Blore-Tirupati from Apr 1
To meet the holiday season rush of passengers between Bangalore and Tirupati, Air India will be launching new thrice-weekly flights from April 1 through its subsidiary Alliance Air.
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Air India may turn into no frills airline
A five-member panel headed by IIM professor RH Dholakia has asked Air India, the Indian national air carrier, to take a cue from no-frill airline model and cut costs. This includes reducing 26,000-strong staff. The suggestion comes at a time while the country's aviation sector waits for the entry of foreign airlines like Air Asia, Air India may become a no-frills low cost operator.