Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

SATS Evinces Interest in Buying Air India's Ground Handling Unit

Civil Aviation Secretary R.N. Choubey disclosed this on the sidelines of an event on the second round of bidding of air regional connectivity -- Udan scheme -- that aims to connect unserved and under-served airports.

IANS

Updated:November 14, 2017, 10:45 PM IST
facebookTwitterskypewhatsapp
Picture for representation
Representative image.
Loading...

New Delhi: Aviation industry major SATS has evinced interest in buying Air India's ground handling unit, Civil Aviation Secretary R.N. Choubey said on Tuesday.

Choubey disclosed this on the sidelines of an event on the second round of bidding of air regional connectivity -- Udan scheme -- that aims to connect unserved and under-served airports.

SATS is said to be interested in Air India's standalone ground-handling services. The company already has a JV (joint venture) with Air India -- AISATS -- that operates out of five airports at Bengaluru, Delhi, Hyderabad, Mangaluru and Thiruvananthapuram.

Earlier, aviation industry major Bird Group and Celebi have shown similar interest in buying out the Air India Air Transport Service Ltd (AIATSL).

However, any decision to sell Air India's subsidiaries together or separately will be taken by the government, Choubey said.

Currently, a ministerial group -- Air India-specific Alternative Mechanism -- headed by Finance Minister Arun Jaitley is looking into the modalities to divest loss making Air India.

The group has been formed to look into the modalities of Air India's divestment process. It has been mandated to decide on key issues such as treatment of Air India's debt and hiving-off of its assets.

The airline, which is under massive debt burden of Rs 50,000 crore, had posted an operating profit of Rs 105 crore in 2015-16.

For the last fiscal (2016-17), the company was expected to report an improved operating profit margin.

The national flag carrier in April 12, 2012, got a new lease of life when the then UPA government had approved a Rs 30,000-crore turnaround and financial restructuring plans package spanning up to 2021.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Bank 1,257.25 4.81
ICICI Bank 446.30 6.90
Axis Bank 725.50 6.64
Maruti Suzuki 6,897.85 4.64
HDFC 2,162.00 5.50
Company Price Change %Gain
Larsen 1,527.65 8.13
Maruti Suzuki 6,899.20 4.77
ICICI Bank 445.20 6.67
Bajaj Finance 4,027.85 8.70
HDFC Bank 1,258.45 4.86
Top Gainers
Company Price Change %Gain
BPCL 450.85 11.64
Bajaj Finance 4,023.75 8.69
Larsen 1,528.50 8.29
Adani Ports 410.95 7.95
Asian Paints 1,802.75 7.88
Company Price Change %Gain
Bajaj Finance 4,027.85 8.70
Larsen 1,527.65 8.13
Asian Paints 1,804.25 7.89
ITC 254.70 6.95
Axis Bank 727.05 6.81
Top Losers
Company Price Change %Gain
Zee Entertain 271.60 -9.89
Infosys 764.35 -5.05
Power Grid Corp 188.30 -4.03
Tata Motors 127.90 -4.02
NTPC 116.05 -3.17
Company Price Change %Gain
Infosys 765.10 -4.97
Tata Motors 127.85 -4.16
Power Grid Corp 188.35 -4.07
NTPC 115.80 -3.42
TCS 2,014.75 -2.46

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results