Air India, the once upon a time Indian airlines major, has been now burdened with debts, bad loans, and more troubles. Every year, the government has been facing hardships in running the airlines, though there are no profits for the company, and there are only huge losses reported every year. It was in such an economic crunch situation that the central government decided to sell Air India citing lack of fund.
However, most of the service
organizations which initially displayed interest to take over Air India had
exited and escaped sooner. The reason behind none of the companies coming
forward to take over Air India has now been identified. Though the government
has decided to sell shares of AI, it has decided to keep on hold 24% shares with
itself. Niti Ayog had advised the government to sell the whole of shares.
But the central government, with an
aim to get shares of the profit in future, decided to hold 24%shares. However,
no party is coming forward to acquire 76%shares alone. The talks with airline
majors like SpiceJet, Jet Airways, Indigo, Tata, had failed. Now, the
government has decided to sell all the properties associated with Air India. It
has 100 Boeing and Airbus and has permissions to ply to 2543 airports. In 2001,
Singapore Airlines had sold Air India shares and exited the deal.
Trump cancelled his own participation in Davos, citing row over his proposed wall Washington sources reported that President Donald Trump on Thursday cancelled the US delegation's trip to the annual international conference at Davos, saying the officials were needed in Washington to tackle the shutdown of the federal government. A statement from Press Secretary Sarah Sanders said "Out of consideration for the 800,000 great American workers not receiving pay and to ensure
- Telangana & AP extended time limit for interstate transfers
- Trump coming out with reforms giving H-1B visa holders certainty to stay in US
- SC appoints Ombudsman for Hardik & Rahul comments
- Rakesh Asthana ousted from CBI!
- TASMAC surpasses Petta!
- Congress MP's trolls Amit and gets criticism!
- World's top four Richest Celebrity list with their individual net worth
- RBI Governor to cut Interest Rates
- PhonePe seen a remarkable growth in 2018 in offline business
- Vijayashanthi questions Why TRS shows fake statements
- SC orders protection for counterfeit travelers in Sabarimala issue
- Boxing Legend Muhammad Ali name for US Airport
- Reliance Jio Net Profit jumped to 65%
- Arun Jaitley to increase Income Tax Slabs Tax Rate
- Ola Money Postpaid offers a 15 day credit line to passengers