Weeks after calling Air India's financial situation untenable, CMD Ashwani Lohani calls rumours of shutdown 'baseless'
Air India chief Ashwani Lohani on Saturday said that "rumours" of the disinvestment-bound airline's shutdown are "all baseless", weeks after he told the Civil Aviation Ministry that the carrier's financial situation was "grossly untenable" for sustaining operations.
After a botched attempt to sell Air India in May last year, a panel led by Arun Jaitley had decided in June to scrap the stake-sale plan for the time being
Senior Congress leader P Chidambaram on Monday alleged that the government was "totally confused" on the Air India assets sale and asked it to "sort out its mind" before attempting to tackle the problem.
Air India stake sale: Why the failed first attempt at the carrier's disinvestment could cost the Narendra Modi govt dear
The AISAM must be allowed to relax the Air India bid conditions substantially. Else, the carrier will continue to feed on taxpayer funds.
Air India comfortable with crude $60-65 per barrel, anything beyond will erode bottomline: Pradeep Singh Kharola
Air India, which is under a massive debt burden of Rs 50,000 crore, had posted an operating profit of Rs 105 crore in 2015-16
Pradeep Singh Kharola would replace Rajiv Bansal who has been serving as interim CMD of Air India for a little over three months
Rajiv Bansal, who is additional secretary and financial adviser at the petroleum ministry, will replace Ashwani Lohani -- who has been appointed as the Chairman of Railway Board.