Cabinet gives in-principle approval for disinvestment of Air India

Agencies
June 29, 2017

New Delhi, Jun 29: The Union Cabinet has given in-principle approval for disinvestment of Air India on Wednesday.

airindia

"In-principle approval for Air India divestment has been given," Finance Minister Arun Jaitley told a press briefing after the cabinet meeting chaired by Prime Minister Narendra Modi.

Finance Minister Arun Jaitley today said, "Individual units can go in the direction of privatisation. There is a possibility. Some have been identified."

"The Civil Aviation Ministry`s proposal for formation of a group under the chairmanship of the Finance Minister to decide the modalities of divestment process has also been accepted," he said.

Apart from Jaitley, the group will include Civil Aviation Minister Ashok Gajapathi Raju and some other ministers to be decided by the Prime Minister.

The group will guide the process on strategic divestment and decide that the treatment of unsustainable debt of Air India and hiving-off of certain assets to a shell company, officials said.

The demerger and strategic divestment of three profit making subsidiaries, the quantum of disinvestment and the universe of bidders will also be taken up by the ministerial group to be headed by Jaitley.

Jaitley has in the recent past expressed strong views on the need to divest Air India considering that it had acquired heavy losses over a long period.

"There are many private airlines like Jet Airways, IndiGo, GoAir. If 86 per cent of the aviation market can be handled by private sector, then 100 per cent can also be handled by the private sector," Jaitley had said.

National passenger carrier Air India currently has a market share of 14 per cent and a debt of Rs 50,000 crore. The private airlines enjoy 86 per cent of the market share.

"Air India has a debt of Rs 50,000 crore. Its valuation of aircrafts will be at Rs 20,000-25,000 crore. The civil aviation ministry is exploring all possibilities," Jaitley had said.

Minister of State for Civil Aviation Jayant Sinha had also said that Air India`s debt needs to be reduced and balance sheet restructured as part of its financial transformation.

"Air India`s balance sheet has to be restructured and debt reduced. The other issue is that corporate governance and professional management need to be put in place. Besides it has to be seen how best use can be made of the non-core assets of Air India," Sinha had said.

In a recent report to the Civil Aviation Ministry, the NITI Aayog recommended strategic disinvestment in the loss-making Air India, by which government control would be transferred to a private owner.

Currently, Air India`s international network consists of 41 destinations across the US, Europe, Australia, Far East and South East Asia and the Gulf.

The airline`s domestic network covers 72 destinations, including far-flung areas of the North-East, Ladakh, Andaman and Nicobar Islands.

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News Network
December 19,2025

Mangaluru: In a decisive move to tackle the city’s deteriorating sanitation infrastructure, the Mangaluru City Corporation (MCC) has announced a massive ₹1,200 crore action plan to overhaul its underground drainage (UGD) network.

The initiative, spearheaded by Deputy Commissioner and MCC Administrator Darshan HV, aims to bridge "missing links" in the current system that have left residents grappling with overflowing sewage and environmental hazards.

The Breaking Point

The announcement follows a high-intensity phone-in session on Thursday, where the DC was flooded with grievances from frustrated citizens. Residents, including Savithri from Yekkur, described a harrowing reality: raw sewage from apartments leaking into stormwater drains, creating a "permanent stink" and turning residential zones into mosquito breeding grounds.

"We are facing immense difficulties due to the stench and the health risks. Local officials have remained silent until now," one resident reported during the session.

The Strategy: A Six-Year Vision

DC Darshan HV confirmed that the proposed plan is not a temporary patch but a comprehensive six-year roadmap designed to accommodate Mangaluru’s projected population growth. Key highlights of the plan include:

•    Infrastructure Expansion: Laying additional pipelines to connect older neighborhoods to the main grid.

•    STP Crackdown: Stricter enforcement of Sewage Treatment Plant (STP) regulations. While new apartments are required to have functional STPs, many older buildings lack them entirely, and several newer units are reportedly non-functional.

•    Budgetary Push: The plan has already been discussed with the district in-charge minister and the Secretary of the Urban Development Department. It is slated for formal presentation in the upcoming state budget.

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News Network
December 7,2025

Mangaluru, Dec 7: A 34-year-old fruit and vegetable trader in Mangaluru has reportedly lost ₹33.1 lakh after falling victim to an online investment scam run through a fake mobile app.

Police said the scam began in September, when the victim received a link on Facebook. Clicking it connected him to a WhatsApp number, where an unidentified person introduced a high-return investment scheme and instructed him to download an app.

To build trust, the fraudster asked him to invest ₹30,000 on September 24. The trader soon received ₹34,000 as “profit,” convincing him the scheme was genuine. Over the next two months, he transferred money in multiple instalments via Google Pay and IMPS to different scanner codes and bank accounts shared by the scammers. Between September 24 and December 3, he ended up sending a total of ₹33.1 lakh.

When he later requested a refund of his investment and promised returns, the scammers demanded additional payments, claiming he needed to pay a “service tax” first. Even after he paid a small amount, no money was returned, and the scammers continued pressuring him for more.

A case has been registered at the CEN Crime Police Station.

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News Network
December 19,2025

Mangaluru: The Mangaluru CEN police have arrested a 23-year-old man for allegedly posting provocative and misleading content on an Instagram page named “mr_a_titude”, targeting the Bajpe police.

Mangaluru Commissioner of Police Sudheer Kumar Reddy C H identified the arrested as Abhishek M, a resident of Katipalla in Mangaluru.

A case has been registered at the Bajpe Police Station under Sections 353(1)(c), 353(2), 56, and 57 read with Section 189 of the Bharatiya Nyaya Sanhita (BNS) in connection with the post.

According to police, the accused uploaded a photograph of a hotel on the Instagram page and alleged that accused persons in a murder case under the Bajpe police jurisdiction were being given “royal treatment” by the police, including being served beef meals daily from the hotel.

The post further accused the police of supporting criminals, misusing their authority, and betraying public trust. Police said the content was provocative in nature and aimed at inciting public outrage against the police.

Following the post, a case was registered at the Bajpe police station, and further investigation was transferred to the CEN police station.

Police records indicate that the accused has a criminal history, with multiple cases registered against him, including murder, attempt to murder, assault, and robbery at the Surathkal Police Station, and one case at the Kaup Police Station.

The Commissioner said the accused was traced and arrested using technical evidence.

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