Centre to sell 76% stake in Air India

Centre to sell 76% stake in Air India

However, Indigo's state-owned rival has a 16.9 percent share of the global travel market in India.

As long as El Al is barred from flying over Saudi Arabia en route to and from Israel, it was illegal for foreign airlines to do so, Rahav said, citing the International Air Transport Association's principles of reciprocity and equality.

The 85-year-old Air India is also a flag carrier with strong global brand recognition and is "extremely well placed to tap the world's largest aviation market growing at 18 per cent plus rate", it says.

Days after Air India's new route connecting New Delhi and Tel Aviv via Saudi airspace was hailed as a historic breakthrough in geo-political relations, Israel's national airline El Al reportedly is seeking cancellation of the Air India's new route.

New Delhi:A Kolkata-bound Air India flight has been grounded at the Delhi airport following reports of a bomb threat, an official said.

If a $5 billion debt on the balance sheet from day 1 doesn't seem daunting enough sample this: The PIM does not indicate any leeway that the new owners will have with regard to rationalising the employee count at Air India. The national carrier has five subsidiaries, a joint venture and a combined workforce of as many as 27,000.

Special counsel: Manafort, Gates worked with Russian intelligence agent
Michael Flynn's case, according to two sources who spoke to this reporter", writes Carter. Gates in Ukraine, he steadfastly denied any association with Russian intelligence.

The airline is under a massive debt burden of around Rs 50,000 crore (around $8 billion).

Along with IndiGo, aviation industry majors SATS, Bird Group and Celebi have shown interest in buying Air India's ground handling unit.

When bidding in a consortium, a clearly defined lead member needs to hold majority stake in the corporate entity representing the consortium. In case of domestic airlines with a negative net worth, the consortium's ownership will be restricted to 51 percent.

India's biggest airline, IndiGo, has expressed unsolicited interest in.

"It is the intention of Government of India to divest its residual shareholding through the process of dispersed disinvestment (ie would not be sold as a block) on such terms as may be prescribed in the Request for Proposal (RFP)", the memorandum said.

In the second stage, the highest bidder would be declared as the buyer after requisite security clearances.

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