The government on Wednesday allowed foreign entities to own up to a 49 percent stake in Air India to increase the prospect of successful disinvestment in the carrier. In a Cabinet meeting chaired by Prime Minister...
Airline Niki’s administrator presses ahead with sale to IAG
The administrator of Niki said he would press ahead with an agreed sale of the insolvent Austrian airline to British Airways owner IAG (ICAG.L) after a German court ruling fanned concern that the deal could unravel. A...
Air India disinvestment process moving ‘expeditiously’: Government
The disinvestment process for Air India is proceeding expeditiously, a senior government official said today amid suggestions in certain quarters not to move ahead with the stake sale for now. A group of ministers is in...
Niki sale to BA owner IAG threatened by German court
Airline Niki’s insolvency should have been filed in Austria not Germany, a Berlin court ruled on Monday, in a move which could unravel last month’s deal to sell the Air Berlin business to British Airways owner IAG. Niki...
Govt to seek expressions of interest for Air India after budget
The government will invite expressions of interest from those interested in buying state-owned Air India Ltd, after the budget presentation on 1 February, a top government official said. The move is intended to...
CAPA: Postponing Air India disinvestment will erode its value
Postponing disinvestment of Air India by five years will further erode its value, says aviation think tank CAPA in response to a draft report by a Parliamentary panel recommending the government review its decision on...
Don’t privatise Air India, give it 5 years to revive: Parliamentary panel
This is not an appropriate time to divest government stake in Air India, which should be given at least five years to revive and its debt written off, a parliamentary panel is likely to tell the government. The panel is...
Tata, Singapore Airlines may assess bid for Air India: Vistara CEO
India’s Tata Group and Singapore Airlines are open to potentially bidding for the indebted carrier Air India, a top official at a joint venture owned by the firms said on Friday. Air India, which was founded in the...
Air India ties up with three banks for loans for 3 B777 planes
State-owned Air India has tied up with UAE-based First Abu Dhabi Bank as well as Standard Chartered Bank and Mashreq Bank to avail short-term loans for acquiring three Boeing 777 aircraft, Union minister Jayant Singh...
Air Berlin sells subsidiary Aviation GmbH to Thomas Cook
Collapsed German airline Air Berlin said on Wednesday it had sold its subsidiary Air Berlin Aviation GmbH to Thomas Cook Group Airlines PLC, continuing the carve-up of its business. Thomas Cook said the acquisition...
Air India stake sale: Debt-laden flag carrier to open books to likely bidders
Debt-laden flag carrier Air India will open its books to all prospective bidders by giving them access to a virtual data centre that would contain relevant information on assets, liabilities and contracts signed to date...
BA owner IAG to buy insolvent Austrian holiday airline Niki
British Airways’ owner IAG (ICAG.L) said on Friday it would buy Niki, Air Berlin’s (AB1.DE) insolvent Austrian holiday airline, for 20 million euros ($24.01 million) and provide additional liquidity to the company of up...
