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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coastaldigest.com news network
December 20,2025

Mangaluru, Dec 20: City Police Commissioner Sudheer Kumar Reddy has issued a high-alert warning to vehicle owners regarding a surge in cyber fraud targeting those looking to pay traffic violation fines. Fraudsters are reportedly exploiting recent government discount schemes on traffic penalties to deceive citizens.

The Scam: How Fraudsters Strike

Criminals are using SMS, WhatsApp, and social media to circulate suspicious links and APK files (Android application packages). They claim these apps allow users to pay e-challans at a discount.

•    Device Hacking: Downloading these unauthorized apps gives hackers full access to the victim's smartphone.

•    Financial Theft: Once the phone is compromised, fraudsters intercept OTPs and personal data to drain bank accounts.

•    Phishing Sites: Fake websites mimicking official portals are also being used to harvest banking credentials.

Already, two residents within Mangaluru city limits have reported significant financial losses after falling victim to these fraudulent apps.

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News Network
December 17,2025

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Melkar, Dec 17: The 17th Annual Day and Graduation Ceremony of Melkar Women’s PU and Degree College, themed “Fusion-2K25,” was celebrated with dignity and enthusiasm, marking a significant milestone in the institution’s academic journey. The programme reflected the college’s steadfast commitment to academic excellence, character building, and the holistic development of students.

The event was inaugurated by Mr. Asif Mohammed, whose presence greatly enriched the occasion. The celebration was further graced by the chief guests Mr. P. B. Ahmed Mudassir and Mr. Nissar Fakeer Mohammed, along with the distinguished guests of honour Mr. B. A. Nazeer and Mr. Ibrahim Gadiyar. In their inspiring addresses, the guests encouraged the graduating students and appreciated the dedicated efforts of the management, faculty, and students.

The annual report was presented by the Principal, Mr. Abdul Majeed S, highlighting the institution’s academic progress, notable achievements, and extracurricular accomplishments during the academic year.

The presidential address was delivered by the esteemed Chairman of Melkar Women’s PU and Degree College, Dr. Haji S. M. Rasheed, who emphasized the vital role of education in empowering women and shaping responsible citizens. He also stressed the importance of discipline, dedication, and perseverance in achieving success.

Cultural programmes and academic recognitions formed an integral part of the celebration, showcasing the talents and achievements of the students. The graduation ceremony was a proud moment for the outgoing students as they were formally conferred degrees and wished success in their future endeavours.

Ms. Mashmooma Fathima served as the Master of Ceremonies. The welcome address was delivered by Ms. Fathima Nida, and the programme concluded with a vote of thanks proposed by Ms. Ayisha Suhana.

The event successfully achieved its objectives and was highly appreciated by the guests and attendees.

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News Network
December 16,2025

Mangaluru, Dec 16: The Mangaluru City police have significantly escalated their campaign against drug trafficking, arresting 25 individuals and booking 12 cases under the Narcotic Drugs and Psychotropic Substances (NDPS) Act between November 30 and December 13. The crackdown resulted in the seizure of a substantial quantity of illicit substances, including 685.6 grams of MDMA and 1.5 kg of ganja.

The success of this recent drive has been significantly boosted by the city’s innovative, QR code-based anonymous reporting system.

"The anonymous reporting system has received an encouraging response. Several recent arrests were made based on inputs received through this system, helping police tighten the noose around drug peddlers," said the City Police Commissioner.

The latest arrests contribute to a robust year-to-date record, underscoring the police's relentless commitment to combating the drug menace.

Up to December 14 this year, the police have registered a total of 107 cases of drug peddling, leading to the arrest of 219 peddlers. Furthermore, they have booked 562 cases of drug consumption, resulting in the arrest of 671 individuals.

The scale of the seizure for the year reflects the magnitude of the problem being tackled: police have seized 320.6 kg of ganja worth ₹88.7 lakh and 1.4 kg of MDMA valued at ₹1.2 crore. Other significant seizures include hydro-weed ganja worth ₹94.7 lakh and cocaine worth ₹1.9 lakh, among others.

The Commissioner emphasized a policy of rigorous enforcement: "We ensure that peddlers are caught red-handed so that they cannot later dispute the case or claim innocence."

To counter the rising trend of substance abuse among youth, the Mangaluru City police have rolled out uniform guidelines for random drug testing across educational institutions.

As part of the drive, tests were conducted in approximately 100 institutions, screening an estimated 5,500 to 6,000 students in the first phase. 20 students tested positive for drug consumption during the initial screening.

Students who tested positive have been provided counselling and are scheduled for re-testing in the second quarter. The testing will also be expanded to students not covered in the first phase. In a move to ensure strict implementation, police personnel were deployed in mufti in some institutions. Reiterating a zero-tolerance stance, the Commissioner confirmed that random testing will continue, and colleges have also been instructed to conduct drug tests at the time of admission to deter substance abuse from an early stage.

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