Category Archives: Aviation

  • Government to float RFP for merchant bankers over Air India disinvestment

    Posted on August 8, 2017 by Diligentia News in Aviation.

    The government will soon float a request for proposal (RFP) for selection of transaction advisor, legal advisor as well as asset valuer for the proposed disinvestment of national carrier Air India. The Cabinet Committee on Economic Affairs (CCEA), the apex body for formulation of government’s economic policies, had on June 28 granted its in-principle approval […]

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  • Air India seeks $740 million loan to finance purchase of 6 Boeing planes

    Posted on August 8, 2017 by Diligentia News in Aviation.

    Air India is looking for bridge loans worth up to $740 million to finance purchase of six Boeing 787-8 planes, according to a tender document. While the government is working on final contours for a strategic disinvestment of its stake in loss-making Air India, the airline is ready with plans to fly to more overseas […]

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  • TAP makes substantial progress in financial turnaround of Air India

    Posted on August 4, 2017 by Diligentia News in Aviation.

    The Government of India had approved a Turnaround Plan (TAP) / Financial Restructuring Plan (FRP) for operational and financial turnaround of Air India. The TAP/FRP provides equity infusion of Rs.30,231 crores upto 2021 subject to achievement of certain milestones. Minister of State for Civil Aviation Jayant Sinha in a written reply to a question in […]

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  • Three-pronged strategy cleared for Air India disinvestment

    Posted on August 4, 2017 by Diligentia News in Aviation.

    The Cabinet committee of economic affairs (CCEA) has finalised a three-pronged strategy for the disinvestment of Air India — demerger and strategic disinvestment of three profit making subsidiaries, hiving off of certain assets into a special purpose vehicle and treatment of unsustainable debts of the ailing carrier. The three profit-making subsidiaries are the low-cost airline […]

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  • It Is In Government’s Interest To Protect Air India Jobs: Arun Jaitley

    Posted on August 3, 2017 by Diligentia News in Aviation.

    Finance Minister Arun Jaitley today said a “proper decision” would be taken on Air India’s future in a competitive market and that it would be in the government’s interest to protect jobs at the airline. His remarks come at a time when a group of ministers headed by him is working on the modalities for […]

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  • AAI land monetisation plan on hold

    Posted on August 3, 2017 by Diligentia News in Aviation.

    The Centre has put on hold a plan to amend the law to enable monetisation of land assets owned by the Airports Authority of India (AAI) announced in the Union Budget 2017-18 by Finance Minister Arun Jaitley. In his Budget speech, the Finance Minister had said that money raised through monetisation of land assets will […]

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  • Air India’s current business ‘not sustainable’: Government tells Parliamentary panel

    Posted on August 3, 2017 by Diligentia News in Aviation.

    Air India’s current business is “not sustainable” as it is neither able to generate enough cash flow nor start repaying even the principal amount on its debt, the government has told a Parliamentary panel. With the Cabinet giving “in-principle” approval for selling stake in the loss-making Air India, a ministerial panel is working on the […]

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  • DGCA starts safety audit of country’s airlines

    Posted on August 3, 2017 by Diligentia News in Aviation.

    As an audit of India’s aviation sector by the International Civil Aviation Organisation (ICAO) nears, the local regulator has launched an evaluation of the country’s airlines for their compliance with safety standards. The Directorate General of Civil Aviation (DGCA) audit is seen as part of the local body’s preparation for the international audit, which comes […]

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  • India will need 2,100 aircraft in 20 years: Boeing

    Posted on August 2, 2017 by Diligentia News in Aviation.

    Boeing estimates that India will require 2,100 aircraft in next 20 years valued at $290 billion. Almost 85 per cent or 1,780 aircraft of 2,100 aircraft will be single aisle such as Boeing 737. Boeing officials said the latest forecast of 2,100 aircraft is the highest ever for India. Boeing was upbeat about the regional […]

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  • IndiGO to start using ATRs by year-end

    Posted on August 2, 2017 by Diligentia News in Aviation.

    IndiGo plans to start commercial operations with ATR 72-600 aircraft by the end of this calendar year, said the company’s President and Whole-time Director Aditya Ghosh at a conference call with financial analysts soon after the company declared its Q1 results here on Monday. “Documentation work with the aircraft and engine manufacturers continues towards finalisation […]

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