Companies & Sectors
Government may consider stake sale in Air India: Report
According to reports, the government may appoint a committee to examine stake sale in Air India for meeting its revenue targets for next year
 
The government may examine the possibility of selling up to 49% of its stake in national carrier Air India, says a report from NewsRise citing an unnamed official.
 
According to the report, the government is planning to set up a committee, comprising four to five members from the finance ministry, ministry of civil aviation as well as cabinet secretariat and Air India that will discuss the asset sales for meeting the revenue targets in FY2017.
 
Few days ago, Mahesh Sharma, state minister for civil aviation told the Rajya Sabha that the national carrier is expected to make an operational profit of Rs8 crore by the end of this fiscal. RN Choubey, the secretary of civil aviation too had told reporters in Hyderabad that Air India will make a net profit in 2019.
 
During the April-September period, the airline reduced losses by half to Rs1,245 crore. Net losses are now projected to decrease by more than half to Rs2,636 crore in the 2016 financial year from a year ago. However, it still has accumulated losses of over Rs35,000 crore and a debt of over Rs45,000 crore. 
 
Air India, after ruling the skies for several decades is now positioned at third place behind private carriers, IndiGo and Jet Airways.  

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COMMENTS

Ramesh Poapt

11 months ago

i was a Tata enterprise decades back.Why the same was taken over by Govt? Anyway, it will save billions of public money every year. it is a proverb,jaha raja(sarkar)vypari, waha praja bhikhari..! and pro-aviation policy has already begun..

Bomb scare in 10 Indigo planes
New Delhi : Security agencies went into a tizzy after an unidentified caller on Wednesday informed them about bombs in 10 flights of Indigo Airlines.
 
Police said a Srinagar-Delhi flight was evacuated at the Indira Gandhi International Airport's domestic terminal 1D following the bomb threat.
 
"A call regarding bombs in 10 Indigo flights was received at the airlines' call centre in Chennai around 10 a.m. A Srinagar-Delhi Indigo flight, 6E853, landed at the IGI Airport around 3 p.m.
 
"All passengers were evacuated and a thorough check is going on," Deputy Commissioner of Police Dinesh Kumar Gupta told IANS. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

 

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Cabinet clears World Bank project for Swachh Bharat Abhiyan
New Delhi : The union cabinet on Wednesday announced clearance for a $1,500 million World Bank project to support Swachh Bharat Abhiyan in rural India.
 
Telecom Minister Ravi Shankar Prasad told reporters that under the scheme separate parameters will be fixed for each beneficiary states.
 
"In September 2014, the government set certain parameters for the states to get the benedfit. These parameters include reduction in open defecation and so on," he said.
 
The minister also announced that in next three years, the government will construct at least 1 crore houses in rural areas with an estimated expenditure of Rs.81,975 crore.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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