Declaring that his working hours were over, an Air India pilot abandoned the plane on the runway at Jaipur airport on Wednesday night, leaving 48 passengers stranded

Flight 9I 644 was meant to fly from Lucknow to Delhi, going via Jaipur. It was supposed to arrive at Jaipur airport at 9 pm, but it was delayed and arrived only at about 1:30 am. Due to the smog at the capital and other technical issues at Delhi airport, it couldn't take off till 2 am.

National carrier Air India has floated a tender to raise $535 million to bridge finance a loan raised to acquire three Boeing 777-300ER (extended range) planes.

Two of the planes will be used by the government for ferrying important officials, a spokesperson said.

As many as 14 companies have expressed an interest to collaborate with the government in the role of transaction and legal advisors for the divestment of national carrier Air India.

The Department of Investment and Public Asset Management (DIPAM) had earlier invited expressions of interest for appointing transaction advisors and law firms in assisting the strategic sale of the carrier. The mammoth deal includes an operating fleet of 142 aircraft comprising 65 A-320 aircraft, 15 B777 aircraft, 24 787 aircraft, 23 737-800 aircraft, 11 ATRs, and four B747 aircraft.

The loss-making Air India is likely to relook into some existing key contracts with its suppliers, including aircraft lessors and engine makers, as it seeks to trim costs ahead of stake sale by the government.

Air India chief Rajiv Bansal, who has been working on ways to improve the airline's on time performance (OTP) and prune costs on various fronts, has set up a task force comprising four teams to put together a strategy before engaging with vendors, according to a source.

Disinvestment-bound Air India has sought proposals for short term loans worth Rs 1,500 crore to meet “urgent” working capital needs, according to a document. This is the second time in little over a month that the flagship carrier has floated tenders for short tenure loans even as the government is working on the modalities for the stake sale. The debt-laden carrier, which is surviving on taxpayers’ money, is battling multiple headwinds, including financial woes and stiff competition. In a document issued on October 18, Air India said it is looking for “government guarantee backed Indian Rupee short term loans totalling up to Rs 1,500 crore to meet its urgent working capital requirements”.

New Delhi: Air India is planning to raise $555 million by way of bridge loan for the purchase of three Boeing Co. aircraft, according to a tender document.

Air India, which is in the process of being privatised, would be taking delivery of three B777-300 ER planes early next year. Now, the airline has sought offers from “banks/ financial institutions to arrange a bridge financing up to $555 million for financing the acquisition of the three B777-300 ER aircraft to be drawn equally at the time of taking delivery of the aircraft,” the document said.

Pay less for flights on Diwali eve. That seems to be the mantra as carriers are substantially lowering the average spot airfare of tickets on Diwali eve, usually the highest in a calendar year, that are booked a week before departure. Thanks to increased capacity by airlines on some of the routes and a slowdown in certain sectors of the economy, a lower priceline around the festival of lights seems the new normal.

State-owned Air India has taken the delivery of its last Boeing 787-8 Dreamliner, which will be inducted in its fleet tomorrow.

The new plane was delivered to Air India in the presence of its chairman and managing director Rajiv Bansal at the Seattle facility of the US aircraft maker Boeing Co, an airline source said.

New Delhi: Tata Sons Ltd executive chairman N. Chandrasekaran has said the group will look at Air India Ltd disinvestment being executed by the government currently. The group, however, needs more details from the government on the process, Chandrasekaran told CNBC-TV18 in an interview, excerpts of which were released on Monday morning.

He said the group can’t remain with a fleet of just over a dozen planes, referring to their new start-up Vistara in alliance with Singapore Airlines.

The government may sell flagship carrier Air India this fiscal itself if it finds a suitable buyer, according to official sources.

The government, they said, also expects to meet its disinvestment target as there are a number of companies in the pipeline.

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