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BusinessToday.in
New Delhi, August 10, 2018
Government is working on turnaround plan for Air India; audit panel rejects Jet accounts; board defers Q1 results; Samsung Galaxy Note 9 launched at Unpacked event in New York; Supreme Court sends Jaypee Infratech back to NCLT, bars promoters from bidding. Watch more in this episode of Business Wrap.


BusinessToday.in
New Delhi, August 10, 2018
Govt working on turnaround plan for Air India, may allow airlines to raise external commercial borrowingAs the Civil Aviation Ministry plans Rs 11,000-crore bailout package for ailing Air India, Aviation Secretary RN Choubey on Thursday confirmed that the centre is working on a turnaround plan to make the debt-ridden airline competitive. Also, the centre is working on ways to let all airlines raise external commercial borrowing to meet the rising operational costs. The decision se...


BusinessToday.In
New Delhi, August 10, 2018
Civil aviation secretary RN Choubey said they are working on a turnaround plan to make Air India competitive and are holding consultations with the finance ministry.


BusinessToday.In
New Delhi, August 9, 2018
In addition to Rs 11,000 crore bailout package, the govt may give the board of directors additional powers to take decisions on operational issues.


Manu Kaushik
New Delhi, August 6, 2018
After months of unsuccessful attempts at selling the ailing national carrier, the government decided to pump in additional money.


Anand Adhikari
New Delhi, August 6, 2018
The government has given signal to banks to try out yet another resolution approach, including AMC-AIF, for dealing with growing stressed assets. Will it work?


Anand Adhikari
New Delhi, August 6, 2018
It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.


Dipak Mondal
New Delhi, August 6, 2018
The Insolvency and Bankruptcy Code can lead to huge job losses in the short to medium term as many companies, including some big names, face liquidation.


BusinessToday.In
New Delhi, August 1, 2018
Reliance Industries overtakes TCS as India's most-valued companyReliance Industries headed by India's richest man Mukesh Ambani has just snatched back the tag of the country's most valued company in terms of market capitalisation. As of 1 pm yesterday, the m-cap of Reliance Industries (RIL) stood at Rs  7.47 lakh crore, overtaking Tata Consultancy Services (TCS), becoming India's first 7.5 lakh crore company in stock market history. The IT bellwether had first replaced RIL ...


Mail Today Bureau
August 1, 2018
The government last month was forced to shelve its plan to sell a majority stake in the beleaguered airline due to lack of interest from bidders, in the latest setback in its efforts to rescue the loss-making carrier that has been kept afloat for years using taxpayer funds.


BusinessToday.In
New Delhi, July 30, 2018
Apart from the banks, San Francisco-based Wells Fargo Trust Services and the United Arab Emirates' state-run Dubai Aerospace Enterprise have also sent notice to the national carrier.


BusinessToday.In
July 23, 2018
The inter-creditor agreement gives more powers to the lead lender in a consortium and allows a resolution plan to be approved if 66 percent of the banks in the group agree to it.


Joe C. Mathew
New Delhi, July 23, 2018
The government's attempt to sell Air India has failed but its broad public asset management strategy is showing results.


Mail Today Bureau
July 14, 2018
The Fortis board of directors picked up IHH offer to infuse Rs 4,000 crore by way of subscription to preferential shares, over rival TPG-Manipal consortium's offer that included Rs 2,100 crore infusion and merger of Manipal Hospitals with Fortis Healthcare.


BusinessToday.In
July 11, 2018
Amid fund crunch, Air India borrowed Rs 6,250 crore from various banks between September last year and January this year for working capital requirements and other needs.


BusinessToday.In
July 3, 2018
The panel, which was set up to study the feasibility of an ARC/AMC for faster resolution of bad loans, has suggested a five-pronged strategy that includes -- SME resolution approach, bank-led resolution approach, AMC/AIF led resolution approach, NCLT/IBC approach, and asset-trading platform.


BusinessToday.In
New Delhi, June 27, 2018
The proposal has got in-principle approval from Prime Minister Narendra Modi and a committee comprising Secretaries from the Civil Aviation and Shipping ministries has been set up to decide on the valuation of the building.


Manu Kaushik
New Delhi, June 27, 2018
In the recently-concluded disinvestment process, the government could not find a single buyer for the national carrier.


PTI
June 15, 2018
The government is committed to provide appropriate liquidity and financial resources to Air India, Union Minister Jayant Sinha said today amid delay in payment of salaries at the airline and uncertainty over its divestment plans.


BusinessToday.In
June 13, 2018
In its earlier memorandum, the government had offered to sell 76 per cent stake in Air India - 100 per cent in its subsidiary Air India Express and 50 per cent in its ground handling staff. It also added a clause for Air India staffs that their jobs would be protected for at least a year from the date of final deal.


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