The government has decided to ease terms of sale for Air India but it is still facing a tough choice on almost half a dozen issues that could be crucial for the airline’s successful disinvestment. Among the key...
GVK deposits Rs 1,248 crore in escrow account to acquire stake in Mumbai International Airport
GVK group on Thursday deposited Rs 1,248 crore in an escrow account for buying out Bidvest’s share in Mumbai International Airport (MIAL), people aware about the development said. The arbitration tribunal had directed...
Air India sale offer may be finalized by month-end
The expression of interest (EoI) document for privatizing state-owned Air India Ltd is likely to be finalized by November-end, two people familiar with the matter said, requesting anonymity. A core group of secretaries...
Bombardier to sell aerostructures business to Spirit AeroSystems
Canada’s Bombardier said on Thursday it had agreed to sell its aerostructures business to Spirit AeroSystems for more than $1 billion in cash and debt. As part of the deal, Bombardier will sell two aerostructure...
Lufthansa ready to invest up to 200 million euros in Alitalia rescue: source
German carrier Lufthansa is ready to invest up to 200 million euros ($223 million) in struggling Italian airline Alitalia, which is running out of cash and racing to find new funds, a source close to the matter said on...
Peruvian Airlines, Star Peru to merge after purchase by investment fund
Peruvian Airlines and Star Perú are set to merge after both were purchased by investment fund Global Investment Platform, the fund said on Wednesday. The merger would give Global Investment Platform just under one-fifth...
Tata Group restructures GMR deal to meet regulatory norms
The Tata Group has agreed to reduce the stake it had proposed to acquire in GMR Airports (GAL) to about 15% from the previously announced 20%, which will likely allow the GMR Group-Tata deal to sail through, people with...
Govt likely to float bids for Air India sale next month
The government is planning to invite preliminary bids for 100 per cent stake sale in Air India next month and already some entities have expressed interest in the national carrier, sources said. The airline is sitting...
Jet Airways to become first Indian company to undergo Cross Border Insolvency proceedings
In a major breakthrough for India’s insolvency mechanism which is still in its evolving stage, Jet Airways would be the first Indian company to undergo insolvency proceedings under the Cross Border Insolvency...
Government set to halve Air India baggage before selloff
The government is all set to repay a big chunk of Air India’s loans, removing a key hurdle in the privatisation of the stricken public sector carrier that was once the pride of India’s skies. It has finished raising Rs...
In wake of Delta deal, Qatar Airways says could consider raising LATAM stake
Qatar Airways CEO Akbar al-Baker said his airline would consider lifting its 10% stake in LATAM Airlines Group SA if the opportunity came up – comments which come after Delta Air Lines Inc agreed last month to buy...
Air India stake sale: Buyer to get only Rs 10,000 crore of airline debt
The government is likely to transfer about Rs 20,000 crore of additional debt from Air India’s books in order to make it lucrative for buyers. The move will leave Air India with about Rs 10,000 crore of debt. This is a...
