Aviation secretary R.N. Choubey, DIPAM secretary Atanu Chakraborty and accounting firm Ernst & Young are also likely to meet soon to decide future course of action, the sources added. Gangwal also suggested that the airline's domestic operations be sold in parts "based on certain types of flying" to various regional carriers.
The Government had announced the privatization of Air India on 28 June 2017. However, seeing that no bids have been received yet, we don't know what the government intends to do now.
Air India, known for its Maharaja mascot, has some of India's most lucrative global and domestic landing and parking slots that are key for airlines. India's largest airline, IndiGo, while expressing an interest in acquiring Air India, has said it would not bid so long as the government remained in the picture, Business Standard reported.
The debt-laden national carrier, Air India, have fetched a Rs 54000 crore dent on the exchequer so far.
The information memorandum said the transaction would involve Air India, its low cost arm Air India Express and Air India SATS Airport Services Pvt Ltd.
When are the Northern rail strikes and what services will be affected?
If it's good enough for Wales and Scotland to have safe rail services, it should be good enough for the rest of Britain. In an attempt to improve reliability, the operator said that it would introduce an "interim timetable" on Monday.
Car drives onto field during baseball game, killing 1
That driver, 51-year-old Carol Sharrow of Sanford , is in custody - and faces a preliminary charge of manslaughter , police said. Parkhurst walked into the police station in 2013 after two interviews by the investigators and confessed, the archives show.
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The FWC said previous minimum wage increases had failed to help families surviving on the payment. Liquor servers will make a minimum of $11.40 per hour, an increase of $1.30 per hour.
On May 1, the government clarified its stand on over 160 queries it received from the interested bidders over the disinvestment of Air India and its subsidiaries. "We now have better understanding of the market", he said. The government, as the owner of Air India, has the right to modify the floor price.
"If the divestment process is not executed successfully, the airline could possibly close, unless the government has the appetite to use billions of dollars of taxpayer funds", the organization said in a recent note. "It is beneficial to buyers that government would take care of half of its debt", said Sinha earlier. He indicated that there could be a rethink on the disinvestment strategy. "The government has the right to sell or not to sell Air India if the bid price is found to be inadequate", he had recently said.The government had past year chose to sell AI, which has a debt of nearly Rs 50,000 crore.
The government will ensure that the airline does not face "any operational difficulties following the latest developments".
IndiGo Airlines and Jet Airways, which had initially shown interest, opted out of the race for Air India after the initial sale terms were disclosed. Air India has struggled to deal with competition from the private sector, thereby, increasing the bailout pressure on the government constantly over the years.
When asked if the CBI case against AirAsia could have any negative impact on Air India stake sale process, considering foreign investors have also been booked in the FIR, Civil Aviation Secretary R N Choubey replied, "I don't think so".