Israel's El Al Sues Over Air India Flights In Saudi Skies

Govt plans to sell 76% stake in Air India, cede management control

Privatization of India's state-run economy has been hobbled by an extreme reluctance to cede control over companies that ultimately are vehicles of power and patronage.

However, Indigo's state-owned rival has a 16.9 percent share of the worldwide travel market in India.

On Wednesday, the Civil Aviation Ministry came out with the preliminary information memorandum for seeking Expression of Interest (EoI) for the strategic disinvestment of Air India. "Later, the security agencies also asked AI to make passengers deboard as the plane needed to be taken to a remote bay for more checks", said an AI official.

The NDA government's move earlier to allow FDI by foreign airlines in debt-ridden Air India upto 49 per cent was an indicator that the Government was serious about disinvestment in the loss-making cash-strapped national carrier so as to bring about fresh infusion of funds.

The government has proposed to sell 76% shares of Air India.

Among the permanent staff, as many as 4,217 are set to retire in the next five years, it added.

Horror in Paris: Macron condemns horrific anti-Semitic killing of Holocaust survivor, 85
He was already suspected by police of sexually harassing the 12-year-old daughter of Knoll's caretaker who lived in her home. Mrs Knoll's murder took place a year to the day after the killing of Sarah Halimi-Attal, a 65-year-old Jewish woman.

As Anurag Kotoky of Bloomberg News has noted, the only potential bidder to have publicly expressed a desire to buy Air India is InterGlobe Aviation Ltd.'s IndiGo, a homegrown low-priced airline that's obviously drawn to the flag carrier's bilateral flying rights and slots at busy airports like Heathrow and John F. Kennedy. The government has injected $3.6 billion (Rs 23,461 crore at $1 = Rs 65.17) since 2012 to bail out the airline.

When bidding in a consortium, a clearly defined lead member needs to hold majority stake in the corporate entity representing the consortium.

Such conditions appear to open the playing field for everyone from SpiceJet to Jet Airways.

India's biggest airline, IndiGo, has expressed unsolicited interest in. The government has also made it clear that it is its "intention" to divest the residual shareholding through the process of dispersed divestment on terms which will be described at a later stage.

As tempting a proposition it is to own this 85-year old airline which was started JRD Tata, the risks associated with its purchase are equally high.

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