STT collections, Air India bid, Facebook data row, and more

STT collections, Air India bid, Facebook data row, and more

STT collections, Air India bid, Facebook data row, and more

The deal will include Air India, wholly owned subsidiary Air India Express and a 50 percent stake in ground handler Air India SATS Airport Services.

Four other subsidiaries of the airline - AIESL (Air India Engineering Services Ltd), AIATSL (Air India Air Transport Services Ltd), HCI (Hotel Corporation of India) and AASL (Airline Allied Services Ltd) - would be hived off through demerger or any other appropriate mechanisms.

Air India, thankfully, has certain strengths - an operating fleet of 138 aircraft, an extensive network connecting around 54 domestic and 94 worldwide destinations (including through code share agreements with foreign carriers), prime landing/parking slots and, above all, brand equity - that serious industry players might want to leverage.

He said the bidding process is expected to be finished by June, by when the winning bidder will be chosen, and all the "legal formalities" will be completed by December.

Air India has been unprofitable since its 2007 merger with state-owned domestic operator Indian Airlines Ltd. After the passengers were offloaded with their hand baggage, a physical as well as scanning check of the flyers and their luggage was carried out, said Sanjay Bhatia, DCP (IGI).

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The 24% stake that the government retains is their attempt to be prepared to cash in on any future improvement in the fortunes of Air India.

It has incurred huge losses but is surviving based on a bailout package of Rs 30,000 crore that began during the tenure of the UPA-2 government and which is continuing under the current NDA government. It adds that the Central government is "carving out real-estate assets and other businesses which are not integral to the core airline business into a separate Special Purpose Vehicle (SPV)".

Ernst & Young LLP India is the transaction advisor.

"We will continue to oppose the privatisation".

The loss-making entity, which has been kept afloat by taxpayer-funded bailouts, received in-principle approval for the strategic divestment from the Cabinet Committee on Economic Affairs (CCEA) mid-2017. This union claims to have around 8,000 employees as members.

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