Govt to divest 76 PC in AI, invites EoI

Government wants to sell 76% stake in loss-making Air India transfer management control

In Air India, the case for outright privatisation flows precisely from its inability to withstand sectoral competition. The planes, which have an average age of 7.4 years, may not be most attractive proposition for suitors like IndiGo, Tata Group-Singapore Airlines combine or any other airline from West Asia with deep pockets.

O'Brien also took to Twitter to voice against the government's move on releasing the preliminary information memorandum on strategic disinvestment of the national carrier.

Among other conditions, the selected bidder would be required to "lock-in its entire shareholding in Air India and in the special objective vehicle (in case investment in AI is made through a special goal vehicle by a consortium or otherwise), up to the expiry of 3rd anniversary of the consummation of the proposed transaction".

Air India's call centre in Delhi received a bomb threat call for their AI-020 Delhi-Kolkata flight, media reports said.

Days after Air India's new route connecting New Delhi and Tel Aviv via Saudi airspace was hailed as a historic breakthrough in geo-political relations, Israel's national airline El Al reportedly is seeking cancellation of the Air India's new route. According to the PIM, Air India has 16,834 employees as on December 1, 2017 of which 11,214 are permanent employees.

The senior official said Employee Stock Option Plan (ESOP) would be extended to the airline staff once the divestment process is complete.

Among the permanent staff, as many as 4,217 are set to retire in the next five years, it added.

Riyadh, Softbank partner for US$200bn solar deal
Son predicts that this project is going to create up to 100,000 jobs in the Kingdom and save it $40 billion in power costs. To start $5 billion will be used as the initial investment, of which the Japan-based SoftBank fund will give $1 billion.

Companies including low-priced Indian carrier IndiGo, owned by InterGlobe Aviation, Tata Group and Turkey's Celebi Aviation Holdings, have expressed an interest in buying some of Air India's operations.

So Prime Minister Narendra Modi will win plaudits by selling Air India Ltd., the national carrier, to a new controlling shareholder.

As per the advertisement issued by the Government, the companies or consortium will be eligible to bid only if their net worth crosses Rs 5,000 crore.

Bidding can be done as a single player or as part of a consortium.

India's biggest airline, IndiGo, has expressed unsolicited interest in.

In the second stage, the highest bidder would be declared as the buyer after requisite security clearances.

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