Tata Group to buy beleaguered Air India?

TNN
June 21, 2017

New Delhi, Jun 21: The Tata Group in partnership with Singapore Airlines may be looking at buying India's national carrier Air India from the government, business news channel ET Now reported on Wednesday citing sources. If the deal comes through, it would be a homecoming of sorts for Air India, which was originally owned by the Tata Group before being nationalised in 1953.

airindia

Tata Group chairman N Chandrasekaran has held informal talks with the government, expressing preliminary interest in buying a controlling stake in Air India with 51 per cent equity, the report stated.

The government has been talking about its interest in privatising the beleaguered airline that has been in losses for a decade. Recently, Finance Minister Arun Jaitley had said the aviation ministry has to explore all possibilities "as to how the privatisation of Air India can be done". Air India has a whopping debt of over Rs 52,000 crore.

Air India has already received bailout packages worth about Rs 24,000 crore out of a total Rs 30,000 crore approved
Back in 2013, the then chairman of Tata Group Ratan Tata had said the group would "be very happy to look" at Air India "as and when it (privatization) happens."

The Tata Group is already present in the Indian civil aviation space with two of its joint ventures including low-cost carrier AirAsia India in partnership with Malaysia's Air Asia, and full service airline Vistara in partnership with Singapore Airlines.

Air India's original avatar was as Tata Airline which was launched in 1932 by Tata Group patriarch JRD Tata. Post independence, it was incorporated as Air India International in 1948 as a joint venture between the government and the private sector to start overseas services. Five years after this, the government would nationalise the aviation industry bringing the airline under its control.

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News Network
April 24,2024

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With the Karnataka transport department extending the deadline for the installation of High Security Registration Plate (HSRP) twice--- in November last year and February, it is no longer planning to extend the same. The department ordered for the installation of HSRP before May 31.

The transport department through a notification in August last year, had mandated the installation on all the vehicles that were registered in the state prior to April 1, 2019. According to transport officials, there are nearly two crore vehicles that are supposed to get HSRP for their vehicles.

“As of now, the state has registered only 34 lakh HSRP installations, despite extending the deadline twice. From nearly 18 lakh installations since February, the numbers have almost doubled. However, there are still a large number of vehicles that have to opt for HSRP,” said C Mallikarjuna, Additional Commissioner for Transport (Enforcement).

“We will wait till May 31 to check for the total number of vehicles that fall in line. We are expecting HSRP installations to touch 75 lakh, after which we will consider an extension as the numbers indicate that people are falling in line and if some more time is given everyone will get it done. However, if we do not reach that number before the deadline, we will request the government not to extend the deadline but urge for an enforcement,” he said.

He also stated that a fine of Rs 500 will be imposed for the first time and if vehicle owners do not fall in line, it will be Rs 1,000 later until they have installed HSRP. “We will wait till the Model Code of Conduct ends and take the government’s opinion. We are going to request the government for strict enforcement if the HSRP installations are not satisfactory,” he added.

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News Network
April 24,2024

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Bengaluru: Former Prime Minister H D Deve Gowda on Wednesday slammed Rahul Gandhi’s "wealth redistribution promise", stating that only someone with no practical knowledge can speak like that.

 “He is dreaming of a revolution. By talking about wealth redistribution, Rahul Gandhi has insulted and humiliated two Congress Prime Ministers who brought market reforms and increased the wealth of the nation,” he added, recalling the contribution of P V Narasimha Rao and Manmohan Singh in economic liberalisation.

Accusing Gandhi of indirectly trying to say that what the two Congress Prime Ministers did was wrong, Gowda said, "He (Rahul Gandhi) has torn up their economic reforms like he had torn up an ordinance (which sought to overturn the rule that disqualifies convicted MPs and MLAs) issued by (the then) Manmohan Singh (government)."

The 90-year-old JD(S) supremo ridiculed the Congress manifesto claiming that only a party that is sure of never coming to power can make as many promises.

“The Congress has promised so many things in its manifesto. The only party that is very sure of never coming to power will promise so much,” Gowda said at a press conference here.

He said the Congress wants to turn this country 'upside down' and the promises made by it indicated that it wants to come to power 'at any cost'.

“Rahul Gandhi wants to do a wealth survey and distribute the wealth. Does he think he is a mass leader,” Deve Gowda said.

Picking up points from the Congress manifesto ‘Nyay Patra’, Gowda said Rahul Gandhi wants to 'give 30 lakh new central government jobs and run this country'.

“There are only 40 lakh sanctioned jobs. How can he create 30 lakh more jobs overnight? How much will he pay these people? Where will he employ them,” he asked.

“Only someone with no practical knowledge can speak like this. (P) Chidambaram was the manifesto committee chairman. Does he agree with Rahul Gandhi’s immature economic ideas,” Gowda said.

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News Network
April 22,2024

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Mangaluru: BJP candidate in Dakshina Kannada Capt Brijesh Chowta has received a letter from Prime Minister Narendra Modi wishing him victory in the election.

In the letter, which the BJP shared with the media, the PM has lauded Chowta’s exceptional services in the armed forces as a part of the Gorkha regiment, especially in counter-insurgency operations. Modi also has mentioned about Chowta’s efforts as an organiser of the Mangaluru Lit Fest and his dedication to preserve the cultural heritage of the region.

“I am certain that you will immensely contribute towards the welfare of people and the region of Dakshina Kannada. Through this letter, I would like to tell the people of your constituency that this is not an ordinary election. Families across India, especially the senior members, would remember the difficulties they have gone through in the last five to six decades. In the last 10 years, the quality of life of every section of society has improved, with many of these troubles removed. Yet, a lot more is still to be done and this election will be decisive in our mission to ensure a better life for everyone,” reads the letter. 

“Your exceptional service in the armed forces as a part of the Gorkha regiment, especially in counter-insurgency operations, is commendable. Additionally, your efforts as an organiser of the Mangaluru Lit Fest demonstrate your dedication to preserving the cultural heritage of the region. I am certain that you will immensely contribute towards the welfare of people and the region of Dakshin Kannada”

“With the blessings of the people, I am confident that you will reach the Parliament. Team members like you are a great asset for me. As a team, we will leave no stone unturned for the welfare of the people of your constituency and the country. Through this letter, I would like to tell the people of your constituency that this is not an ordinary election. Families across India, especially the senior members, would remember the difficulties they have gone through in the last 5-6 decades. In the last 10 years, the quality of life of every section of society has improved, with many of these troubles removed. Yet, a lot more is still to be done and this election will be decisive in our mission to ensure a better life for everyone.

“This election is an opportunity to connect our present with a bright future. Every vote that the BJP gets will go towards forming a stable government and impart momentum in our journey to become a developed nation by 2047. The people of India themselves have made up their minds to support this vision and are leading the way in this election. I am aware that the summer heat poses problems to everyone. But this election is extremely important for the future of our nation. I appeal to the voters to cast their votes early in the morning, before the heat sets in.

“It is important that our workers motivate people to go out and vote in large numbers. Focus on winning the booth. Victory in every booth leads to success in the constituency. At the same time, I request workers of our party to take care of their health and that of other people around them. As a candidate of the BJP, I urge you to convey my assurance to each voter that every moment of my time is dedicated to the welfare of my fellow citizens. I send you my wishes for your victory in the election,” stated PM Modi in the letter.

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