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.
Air India sale: Aviation think tank Capa expects participation from global airlines for national carrier
Air India represents an attractive opportunity for investors if it is relieved of its working capital debt, which stands around Rs 30,000 crore
Air India has a total debt burden of around Rs 55,000 crore
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
Finance ministry rejects aviation ministry's proposal to waive Air India's working capital debt of Rs 30,000 crore in one go
The finance ministry, however, has not rejected the demand for a waiver of the working capital debt of Air India
Air India, which has been in the red for long, had a debt burden of Rs 48,000 crore at the end of March 2017.
Hotel Corporation of India, AI Engineering Services and Alliance Air remained loss making in 2016-17, according to estimates submitted in Parliament on Thursday
Air India disinvestment: Beyond excitement, lies the uphill task of accessing assets, keeping it lucrative for buyers
Beyond the in-principle approval, what the government of India needs the most is to conduct a hard-nosed assessment of Air India’s assets versus liabilities, and a workable proposal which makes the airline attractive to any prospective buyer