Debt-ridden Air India expects to pay lenders, jet leasing firms in two weeks; eyes fresh capital from government
Three banks and two aircraft leasing companies have reportedly served default notices on Air India over the past few weeks.
Air India's balance sheet is splashed with red ink; if the govt won't sell the ailing carrier, it has to bear the cross
Air India has logged losses for over a decade, has a debt of over Rs 50,000 crore and faces stiff competition from private airlines. What should the government's focus be?
During the disinvestment process, the govt would continue to support Air India as per approved turnaround plan, Sinha said
Quarterly performance of these banks would be monitored by SBI Capital Markets
In the Union Budget for the 2016-17 financial year, presented by Finance Minister Arun Jaitley in Lok Sabha on Monday, the Government-run carrier has been allocated Rs 1,713 crore as part of the Rs 30,0231 crore financial bailout package.
Govt has pumped in Rs 22,280 cr of taxpayer money into Air India, but where is the plan to disinvest?
Of the Rs 30,000 crore planned to be spend on Air India's turnaround plan over a 10-year period, over 70% of the promised support been given in first three-and-a-half years itself
A further analysis of on-time performance shows the national carrier, which is holding up because of a Rs 30,000 crore bailout package from the government, could not fly 42.5 percent flights or about four in every 10 from Mumbai airport on time in October.
SBI Caps, which had devised the initial TAP, has again been tasked with the mid-term correction and is expected to revert with a new plan in a month or two.
Air India has reported losses to the tune of Rs 5,389 crore and Rs 5,490 crore respectively in the fiscal 2013-14 and 2012-13 respectively.
Air India would shift its headquarters from Mumbai to Delhi as part of its Turnaround Plan, but no date has yet been finalised, official sources said today.