One of India's most trusted group Tata Sons has expressed interest to acquire Air India, if the government-owned Air India (AI) is going to be privatised. This has been stated by Ratan Tata, the Tata GroupÂ’s chairman emeritus on October 25.
Tag: Air India
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Air India may get Rs 2,500-cr govt-backed loans
Air India is expecting to get sovereign guarantees for Rs 2,500 crore loans from the government next week. The State-run airline has tied up with 8-9 banks to raise the debt, to cover the shortfall in government funding to shore up its finances, sources in the airline firm said.
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Air India hopes to meet govt set fiscal targets
Air India CMD Rohit Nandan has stated that despite an unexpected increase in aviation fuel cost and wild fluctuation of rupee against the dollar, the national carrier is hopeful of meeting its financial targets in the second quarter of this fiscal. The company has managed to bring its losses down to about Rs 11 crore per day from around Rs 50 crore per day, he added.
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Mumbai to have first branch of Bharatiya Mahila Bank
Mumbai's Nariman Point, the city's premier business district, is to have India's first bank exclusively for women by next November. It is called Bharatiya Mahila Bank and is going to be opened in the iconic Air India building in the area. The first branch of the bank will be in a 5,000 sq ft space in the building.
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AI to set up hub in Chennai or Blore to garner air traffic
The government-owned carrier Air India has been asked by the the Union Civil Aviation Minister Ajit Singh to develop a hub in South India to target passenger traffic from the states in the region. Air India has to consider setting up a hub in Chennai or Bangalore. It can have its main hub in Delhi, Singh said.
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AI extends deadline for $500 mn bridge financing offer
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.
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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