Even though the Union Cabinet has allowed foreign airlines to pick up 49 per cent stake in Air India, global players are likely to stay away unless the government agrees to hand over management control of the airline to them.
The Indian government is in the process of finalising the modalities for the strategic disinvestment of debt-laden Air India. "Allowing foreign airlines to participate will increase the number of interested bidders and the valuation", aviation consultancy firm CAPA, said.
Singapore Airlines owns a 49% stake in full service carrier Vistara.
"Air India has been facing losses for the past many years on account of a multitude of factors like high fuel prices, high-interest burden, increasing competition especially from low-priced carriers, high debt-equity ratio, and high airport charges", Jayant Sinha, India's Minister of State for Civil Aviation said last week. Air India, today, flies one of the youngest, state-of-the-art, fleet of aircraft comprising a mix of the wide-body Boeing B777s, B747s, its latest acquisition- the B787 Dreamliner and the narrow body Airbus A321s, A320s and A319 aircraft. "But it should not allow any individual business house to hold a major stake".
The NDA government's move to allow FDI by foreign airlines in debt-ridden national carrier Air India upto 49 per cent is a reversal of the previous UPA-2 government's decision to keep Air India out of the FDI policy.
"It has now been made a decision to do away with this restriction and allow foreign airlines to invest up to 49 per cent under approval route in Air India.", the release said.
The cabinet chaired by Prime Minister Narendra Modi gave its nod to several amendments in the FDI policy, including foreign investments in Air India under the approval route, which is subject to certain conditions.
He said that Air India has some very good assets and that it should be utilised well.
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News articles about EXACT Sciences (NASDAQ: EXAS ) have been trending somewhat positive on Thursday, Accern Sentiment reports. Redmond Asset Management Limited Liability Com reported 0.77% of its portfolio in Exact Sciences Corporation (NASDAQ: EXAS ).
Before the mud water came rushing down the street Marco Farrell told a driver to leave quickly because it was risky . As Farrell turns the camera up the street, a huge wall of mud and debris is seen charging down the street.
The plant represents a return to US manufacturing for Mazda, which previously built its Mazda 6 at a plant owned by Ford. The new plant will employ up to 4,000 workers at an average annual salary of $50,000, state officials said.
Davis scored his first-career touchdown on a fumble recovery and return against the Arizona Cardinals in 2016. The NFL reported Friday that Thomas Davis of the Carolina Panthers plans to retire after the 2018 NFL season.
Wichita Deputy Police Chief Troy Livingston has said Finch raised and lowered his hands after stepping onto the porch. Finch opened the door and was shot to death. "The irresponsible actions of a prankster put people and lives at risk".
Gagnon writes Alford outplayed Desmond Trufant and Keanu Neal in the Falcons secondary Saturday against the Los Angeles Rams. In the five games in which Sanu scored this season , Jones was kept out of end zone.
Lipocine Inc (LPCN) Insider Sells 3750 Shares
The stock is now moving below its 20-Day Simple Moving Average of -45.66% with a 50-Day Simple Moving Average of -47.1 percent. According to their observations and findings, the stock could provide a high EPS of $-0.2/share and a low EPS of $-0.21/share.
Walmart abruptly closing 63 Sam's Club stores
"Our goal is to place as numerous impacted associates as possible at other Sam's Clubs or Walmart stores", he said in an email . Meanwhile, stores like Sam's Club, which lacks a clear specialty and faces stiff competition with Costco , have not done well.
Bing Predicts: NFL Playoffs Divisional Round
The Rams may have been the more talented team, but this talent just did not look ready for the stage, while the Falcons were. Everybody knows this is not the same team without MVP candidate Carson Wentz under center, and it has shown.
Trump wants stronger libel laws
The president reiterated his approach to immigration and border security, saying, "We are also making America safe again". Trump had tried to prevent the book from being published, instructing his lawyers to issue a cease and desist order.
Colgate-Palmolive (CL) Plans Quarterly Dividend of $0.40
Following the completion of the transaction, the director now owns 36,268 shares of the company's stock, valued at $2,557,619.36. Also, insider Jennifer Daniels sold 7,375 shares of Colgate-Palmolive stock in a transaction on Wednesday, December 13th.