Strongly oppose Air India sale: Mamata

Air India Maharaja on the auction block as govt invites Expression of Interest to sell 76% stake

The government plans to provide stock options to Air India staff after sale of its 76 per cent stake in the debt-laden airline, a senior official said.

The AITUC, while "strongly denouncing" the tacit move of the government to privatise the national carrier-Air India, has called upon the workers and the trade unions to unitedly oppose this "retrograde" policy.

Starting off the disinvestment exercise - a major initiative of the NDA government - Expression of Interest (EoI) has been sought from various entities, including foreign airlines.

The deadline for submissions is May 14 following which those successful applicants will be informed on May 28. "The passengers were offloaded to carry out the security drills", Deputy Commissioner of Police Sanjay Bhatia said.

Bidding can be done as a single player or as part of a consortium. The latest offer will include Rs 333 billion ($5.1 billion) of debt that the buyer will have to take over with the balance going to the government.

On the debt restructuring, the PIM disclosed that the "existing debt and liabilities of AI and AIXL as on March 31, 2017, are being reallocated and it is expected that debt and liabilities...will remain with AI and AIXL".

Hotel Corporation of India which owns two hotels and provides airline meals at Delhi and Mumbai airports is also not included in the sale.

Air Force Airlifts Dapchi Girls Back To Maiduguri
The girls met with President Muhammadu Buhari on Friday, March 23 following their release by Boko Haram terrorists. Sharibu was said to have been held back because she refused to convert from Christianity to Islam.

AIESL mainly provides maintenance and overhaul of engines while AIATSL is into ground and cargo handling services.

The confirmed selected bidder has to continue using the "Air India" brand for AI business operations for a minimum specified number of years on terms to be detailed at a later stage.

Modi's cabinet gave the go-ahead past year to sell the loss-making flagship airline after successive governments spent billions of dollars to keep it solvent.

"Air India flew directly to Israel, on a straight line from India to Tel Aviv", Netanyahu said.

During this period, the bidder would also not be allowed to cede the management control.

What one gets with a 76% stake in Air India is an operational fleet of 104 aircraft of which only 69 are owned outright or through financial lease by the airline.

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