Air India's current business 'not sustainable': Government tells Parliamentary panel

New Delhi:-
Air India's current business is "not sustainable" as it is neither able to generate enough cash flow nor start repaying even the principal amount on its debt, the government has told a Parliamentary panel.

Air India

With the Cabinet giving "in-principle" approval for selling stake in the loss-making Air India, a ministerial panel is working on the final contours of the proposed disinvestment.

Against this backdrop, a parliamentary panel has sought details on the Air India disinvestment decision.

Sources said the civil aviation ministry has provided a brief overview about the factors that led to the decision to sell Air India stake to the panel.

In the current scenario, Air India is not in a position to generate enough cash flow, to be in a position to start repaying principal amounts on its debt, the ministry has told the panel, according to sources.

Comments

THE WORLD’S BEST AIRLINES 2017 REVEALED

The World’s Best Airlines 2017 Revealed Skytrax, a review website for airlines and airports, has just released its annual list of World’s Best Airlines as part of the Skytrax World Airline Awards. While a couple of familiar names have taken out the top spots, there are a few new names that have edged their way into the top 10. 1. Qatar Airways Qatar Airways has been named the best airline in the world for 2017 by the leading consumer-aviation website Skytrax. The Gulf-based carrier was presented with the honor at Tuesday’s World Airline Awards at the 2017 Paris Air Show. 2. Singapore Airlines Singapore Airlines, a perennial favourite in the awards was ranked No. 2 in the world, also receiving awards as the Best Airline in Asia, the World’s Best Business Class seat and for having the Best Premium Economy Onboard Catering. 3. ANA All Nippon Airways ANA is the largest airline in Japan by revenues and passenger numbers. Founded i...

Kishangarh Airport to be commissioned by August, says AAI

New Delhi/Rajasthan:- In yet another achievement for the Airports Authority of India (AAI), the Kishangarh airport in Rajasthan is likely to be operational by next month. Kishangarh Airport AAI officials believe the new airport will cater to tourists who visit Ajmer on regular basis. Sudhir Raheja, Member (Planning) of the AAI, said, "Hostile to smile was the motto we were working on. Eventually, we won the trust of the people and were helped by the people and state government, and today, this airport is ready. Licensing work is underway and I expect that airport will be commissioned in August. A.K.Pathak, Executive Director of the AAI, said, Kishangarh Airport is one of the very important airports in the Rajasthan region. Ultimately", Kishangarh Airport will feed our Ajmer Sharif as this carries religious value...

Infra, skilled manpower needed to sustain aviation sector growth: Jayant Sinha

New Delhi:- India needs infrastructure and trained manpower to sustain the growth of its civil aviation sector, Minister of State for Civil Aviation Jayant Sinha said on Tuesday. "Land for airports development" and skilled manpower are required to sustain the growth being witnessed by the sector, he said at an event here to launch skill development initiative for aircraft maintenance engineers (AMEs). The initiative comes after a report submitted to the Civil Aviation ministry highlighted that 72,900 technicians and AMEs will be required by the industry by 2035. However, aviation regulator Directorate General of Civil Aviation's data showed that only 3,644 basic licenses and only 159 type rated AME licenses were issued in the last five years. On an average, eight AMEs are required for maintenance of an aircraft. This figure assumes significance in the light mega aircraf...

That Aviationist

Search This Blog