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.

The government knows that if it has to get more suitors for Air India Ltd, it will have to offload a good portion of its gigantic debt. A report in The Economic Times on Monday said that of the airline’s total debt of Rs52,000 crore, about Rs33,000 crore will be transferred to a special purpose vehicle (SPV). The remaining debt, which is against aircraft purchases, will remain on its books, said the report.

NEW DELHI: In a bid to ensure Air India does not run out of cash before it is sold off, the government has ensured that the Maharaja gets a loan of up to Rs 6,000 crore to meet expenses. The airline was supposed to get Rs 2,500 crore this fiscal according to the equity infusion plan and is facing a shortfall of Rs 700 crore.

“We have obtained government guarantee to enable AI to borrow up to Rs 6,000 crore for meeting cash deficit in the run-up to disinvestment. Our expectation is that the AI management will improve fleet utilisation and ontime performance to improve its valuation prior to the disinvestment,“ aviation secretary R N Choubey told TOI.

Air India chief Rajiv Bansal has said the airline has requested DGCA to take a "lenient view" on more than 400 pilots and cabin crew who have come under the scanner for skipping breath analyser test, maintaining that they never intended to violate norms.

As many as 132 pilots and 434 cabin crew of the national carrier have been found by the DGCA to have allegedly skipped the compulsory pre-and post-flight alcohol tests this year. They face the prospect of being grounded and a final decision would be taken after discussions with the civil aviation ministry.

The Ministry of Civil Aviation on Friday invited proposals for recruitment of an asset valuer for disinvestment of Air India. Interested parties are required to submit their proposals by October 16. According to document uploaded by the Department of Divestment and Public Asset Management (DIPAM), the government has in-principle decided to consider the disinvestment of the Air India group as a whole or its constituents fully or part thereof through strategic sale with transfer of management control.

NEW DELHI: The government has decided to sell some of Air India's real estate directly to expedite the state-owned carrier's divestment. This follows the discovery that some of the assets are not owned by the carrier but on a 99-year lease from the government.

"Properties where the government has the ownership will go back to the government, which will sell it on behalf of Air India," said a senior aviation ministry official who did not want to be named. Air India officials confirmed that two such properties in Delhi owned by the urban development ministry have already been identified.

Air India on Saturday launched the first non-stop flight service between India and Denmark.

The national carrier will fly non-stop from Delhi to Denmark's capital Copenhagen — its 44th international destination.

New Delhi: The government plans road shows for Air India Ltd in India and abroad as it proceeds to sell the airline, according to a note it released on Thursday evening.

In its detailed tender requesting for proposals for engagement of advisers for strategic disinvestment in Air India and its subsidiaries, one of the tasks outlined for the adviser is of “conducting road shows in India and abroad”.

An Air India pilot union has expressed apprehension over the aviation regulator Directorate General of Civil Aviation (DGCA)’s reported warning to pilots for not complying with post-flight breath analysis test on international flights.

“We have come to know that DGCA is contemplating suspending licences of 132 pilots and 400 cabin crew…Kindly enlighten us as to why DGCA official in charge of Air Safety did not conduct any audit for the past two years,” Indian Commercial Pilots' Association (ICPA) General Secretary Captain T. Praveen Keerthi said in a letter to DGCA chief B.S.Bhullar on Monday.

National carrier Air India has deferred the delivery of at least one A320 neo aircraft due to issues with CFM-manufactured engine, sources said.

The development also comes at a time when no-frills carriers -- IndiGo and GoAir -- have grounded at least 11 A320 neo aircraft due to problems in their Pratt and Whitney engines.

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