How a stake in AI could help a global airline soar higher

30 March, 2018, 00:40 | Author: Charlene Valdez
  • The government plans to offload 76% equity share capital of the national carrier as well as transfer the management control

According to the bid document, the selected bidder would need to retain its stake in Air India and management control of the airline for at least three years.

El Al is trying to force the rescindment of Air India's permit to operate its new Delhi-Tel Aviv service on short routes unavailable to the Israeli flag-carrier.

The information memorandum said the transaction will involve Air India, its low cost arm Air India Express and Air India SATS Airport Services Pvt Ltd.

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Israel's national airline, El Al, for fears it will financially suffer from what it calls "aerial discrimination", filed a lawsuit on Wednesday against the government, the Civil Aviation Authority, Prime Minister Benjamin Netanyahu and, finally, Air India. The funds saved can help the government bolster its finances and boost spending on health and education. The majority of the members, in favour of selling the government's stake in Air India, were from the ruling BJP.

Along with IndiGo, aviation industry majors SATS, Bird Group and Celebi have shown interest in buying Air India's ground handling unit. Bidding closes on May 14.

Over Rs 24,576 crore of interest-bearing debt will be transferred to the new Air India, while the remaining Rs 25, ooo crore will stay with the asset holding company. The existing debt and liabilities of Air India and Air India Express as on March 31, 2017 would be re-allocated. In turn, the airline holds full stake in Air India Express, while it holds a 50 percent stake in the joint-venture AISATS.

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El Al is asking that the Air India flights be halted until Israeli airlines are also allowed to fly over Saudi Arabia.

Despite this enormous task of turning around an airline which has accumulated losses of Rs 27,231 crore between 2012-13 and 2016-17, and even in 2016-17 posted a loss of Rs 5,765 crore on revenues of Rs 22,177 crore, there will be many that will be interested.

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

Giants 'Listening To Trade Calls' For Odell Beckham Jr
But one thing seems certain: a late first-round pick isn't going to be enough for the Giants to trade their best offensive weapon. During his first three seasons in the league, Beckham was one of the more productive young wideouts in NFL history.

A stake in Air India will also help any European airline take the fight back to their West Asian counterparts which have managed to capture a large chunk of West-bound traffic to and from India.

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