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HomeEconomyCivil Aviation Secretary: Govt to finalise Air India revival package in 10-15...

Civil Aviation Secretary: Govt to finalise Air India revival package in 10-15 days

The government is mulling strategic sale of Air India subsidiary AIATSL to raise funds and help cut debt of the national carrier, according to official sources

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New Delhi: The government is likely to finalise a revival package for debt-laden Air India in 10 to 15 days, Civil Aviation Secretary RN Choubey said on Thursday.

Earlier this year, efforts for strategic disinvestment of the airline failed to take off. The national carrier is estimated to have a debt burden of more than Rs 50,000 crore.

The difficult situation in the airline sector is mainly on account of high crude prices and depreciation of the rupee in recent times, he told reporters after his meeting with Economic Affairs Secretary SC Garg.

The government has been looking at ways, including the sale of non-core assets, to bolster the carrier’s fortunes.

Air India is staying afloat on a bailout package extended by the previous UPA regime in 2012.

The government had originally proposed to offload 76% equity share capital of the national carrier as well as transfer the management control to private players. The buyer would have had to take over Rs 24,000 crore debt or the carrier along with over Rs 8,000 crore of liabilities.

However, the stake sale failed to attract any bidders when the bidding process got completed on 31 May.

In June, the GoM then decided not to go ahead with Air India stake sale in an election year.

The government is mulling strategic sale of Air India subsidiary AIATSL to raise funds and help cut debt of the national carrier, according to official sources.

Strategic sale of Air India Air Transport Service (AIATSL), which provides ground handling services, is being planned as part of the turnaround scheme for Air India which is reeling under a debt burden of Rs 50,000 crore.

As per latest data, in 2016-17, two subsidiaries of Air India — AIATSL and Air India Express Ltd — posted profits. While AIATSL earned Rs 61.66 crore profit in 2016-17 fiscal, another subsidiary AI Express earned Rs 297 crore as profit.

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As a Free Speech absolutist I am not for banning any ad, or any standup comic or any film that mocks Hinduism or Hindu gods, but perhaps it is time for these shameless hypocrites and propagandists to append their creative work with the following statement, in bold:

কীভাবে সুরক্ষিত থাকবেন এই ভ্যারিয়্যান্টের হাত থেকে? জেনে নিন...

#omicorn #drkunalsarkar #covidvariant #kolkata #coronavirus #EiSamay

https://eisamay.com/west-bengal-news/kolkata-news/omicron-dr-kunal-sarkar-advice-people-to-maintain-covid-appropriate-behaviour-to-stop-further-spread-of-coronavirus/articleshow/87965546.cms

@munawar0018 Nafrat jeet gayi?

Mocking Hindu Gods is comedy?

60 people being murdered by burning to death is a JOKE?

India is great & Indians are tolerant so only your insensitive shows are getting canceled

Write better jokes, don’t destroy the delicate secular fabric of our nation🙏🙏

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