Air India chairman and MD Ashwani Lohani reportedly said “divestment is the only option” for the airline, due to its INR583.5 billion (USD8.2 billion) debt (Deccan Herald, 13-Aug-2019). Mr Lohani stated: “Unless we get equity support, the business is just not sustainable”. He added: “We also need to appreciate that running a highly complex business like an airline efficiently within the confines of the complex government rules and limitations, is almost impossible”.
More Like this
India Government may clear USD3bn of Air India outstanding dues to vendors prior to divestmentNovember 13, 2019
Air India’s biggest challenge is managing its ‘huge backlog of losses’: Chairman and MDFebruary 26, 2019
India Government may transfer USD4bn of Air India debt to AIAHLNovember 5, 2018
India Government may transfer additional Air India debt to AIAHLOctober 11, 2019
Air India to receive USD211m government equity injection in late Jan-2019: reportsJanuary 28, 2019
CAPA India: Suspension of Air India divestment is a highly disappointing reversalJune 20, 2018
Sri Lanka Government may resume divestment of SriLankan Airlines ‘in the next few months’October 11, 2018
Jet Airways board approves provisional resolution planFebruary 15, 2019
India Government to resume Air India divestment process soon: reportsMay 30, 2019
Buddha Air aims to commence services to additional destinations in India by Aug-2020May 28, 2019
India Government to infuse USD330m into Air India by the end of FY2018/2019January 31, 2019
India Government to issue Air India divestment EoI by early Nov-2019: reportsOctober 10, 2019