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Tata Sons’ $2.4 billion purchase of debt-ridden, government-owned Air India will give the conglomerate immediate access to valuable flying rights and landing slots that will help it claw back market share from foreign rivals.But industry executives warn any success will be a long and complicated process that could cost it more than $1 billion and … Continue reading Challenges abound as Tata draws up flight plan for Air India

Air India unions have served a strike notice over the issue of being asked to vacate their company accommodation in Mumbai’s Kalina within six months of the divestment deal’s transaction closing date. The Joint Action Committee of AI Unions on Wednesday issued a notice to Mumbai’s regional labour commissioner, saying they may go on an … Continue reading Staffers told to vacate quarters, Air India unions warn of strike

The government plans to sell Air India’s regional arm separately, days after Tata Sons emerged as the highest bidder for the parent carrier in an auction that didn’t include the unit, underscoring Prime Minister Narendra Modi’s attempts to steer the state away from involvement in private-sector business.

The government on Friday announced Tata Group as the winning bidder for Air India, clearing the way for the cash-strapped Maharaja going back to the founder exactly 68 years after India had nationalised its private airlines in 1953. ​​Tata wholly owned subsidiary Talace Pvt Ltd put an enterprise value (EV) bid at Rs 18,000 crore, … Continue reading Air India back in founder Tata fold after 68 years

“Welcome back, Air India,” tweeted Tata Group’s chairman emeritus Ratan Tata after the conglomerate won the bid to acquire the cash-strapped airlines.With the tweet, Ratan Tata posted an iconic image of JRD Tata next to an Air India plane.Calling the acquisition “great news”, the industrialist expressed hope that the sale will provide a very strong … Continue reading ‘Welcome back, Air India,’ says Ratan Tata

Govt begins Air India bid evaluation

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The government has begun evaluation of financial bids received from Tata Group and SpiceJet founder for the acquisition of Air India, sources said. With this, the privatisation process of the national flag carrier has moved to the next phase as the government looks to expeditiously conclude the deal.

The government is likely to limit employee benefits only up to the time it is an owner of cash-guzzler national carrier Air India, setting the template for the privatisation of other public sector companies as part of its ambitious strategic sale programme.

In a sign that more flights, perhaps even international, could be allowed soon, Air India has cancelled leaves of its pilots with immediate effect. The airline sent an order to its pilots on Monday, saying “all leave for cockpit crew stands withdrawn with immediate effect. However, leave may be granted in extreme cases depending on … Continue reading Air India cancels all pilots’ leaves to add flights

The inaugural flight of Air India’s longest direct route — San Francisco (SFO) – Bengaluru (BLR) with four women pilots has taken off on Sunday morning. Air India scripted history as all women cockpit crew rolls out AI176 on its record-making around the world voyage, possibly charting the Polar route from SFO to BLR,” AI … Continue reading Flown by 4 women pilots, AI SFO-BLR polar route flight set to take off

The government may not be able to close the BPCL and Air India disinvestment transactions by March 31, although it is pushing the sale of five large public sector companies, including BEML, for which it sought interest from potential buyers on Sunday.

Tata Group, India’s largest conglomerate, is believed to have submitted an expression of interest for the beleaguered national carrier Air India over the weekend. It is learned that the vehicle used to file the interest in AI is AirAsia India, where Tata Sons have a significant majority stake. A group of 200 Air India employees … Continue reading Tatas bid for Air India, 67 years after exit