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Government to exit Air India completely

Government to exit Air India completely

Megha Paul

- September 2, 2019

Hardeep Puri, civil aviation minister of India said the government will completely exit Air India, and there is already significant interest among prospective buyers for it.

“Air India should be totally privatised. We have to get the best possible deal and we have to get it in the shortest possible time available,” said Puri. The government had decided to retain 26% stake in the national carrier during the last attempt for sale, which, according to the transaction adviser, spooked the prospective buyers.

No bidder had turned up to invest in the debt-laden carrier when the deadline for expression of interest expired on 31 May 2019. The group of ministers for Air India’s sale, headed by home minister Amit Shah, is expected to meet soon. Meanwhile, operating losses at Air India have narrowed to one-fourth in the first four months of FY20.

The complete grounding of Jet Airways since April has helped the domestic carriers including Air India to improve their passenger revenues and yields. The fares on major routes went up 25-30% year-on-year due to a huge drop in capacities.

“We have been able to improve our revenues despite no new planes being added to our fleet. Our flight occupancy was up 2% y-o-y in July and yield was also up 10% year on year last month. Our only problem is servicing high debt,” said Ashwini Lohani, chairman and managing director of Air India.

May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

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Government to exit Air India completely

Megha Paul

- September 2, 2019

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May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

Stay riveted for our next gala event, The Brand Travel Daily Media Travel Excellence Awards that recognizes and celebrates the outstanding achievements of companies and individuals in the travel, airline, and hospitality industry. They are scheduled to take place in 11 October, 2024

For inquires, to attend or sponsor next awards, kindly email here: Gary@traveldailymedia.com

If you know of any female leaders or up and coming superstars in the Travel and Hospitality industry you would like to nominate, please visit our page and complete a nomination form!
The prestigious IWTA Awards 2024 Award Winners are listed below:

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…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign.

We can also organise a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

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Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats