NewsClues | Read the latest business economy and financial news in short. Business and financial news aggregator with news summary.
Swipe through the latest business and wealth clues with our android app
Clues by NC Team • 13 Feb 2019, Wednesday

Ashwani Lohani has been appointed as the Chairman and Managing Director of Air India. This will be Lohani's second tenure as Air India chief. Lohani had earlier taken charge at the state-run carrier as its CMD in August 2015. He has been appointed on a contract basis, according to the statement. Lohani was appointed Railway Board chairman in August 2017 and retired in December 2018. He holds a degree in Mechanical Engineering, and started his career as an assistant electrical engineer in February, 1982.

Read More at Livemint
Clues by NC Team • 13 Feb 2019, Wednesday

The government is likely to refinance over Rs 20,000 crore of Air India’s Rs 29,000 crore of debt. The government has transferred Rs 29,000 crore of the airline’s total debt to a special purpose vehicle, Air India Asset Holdings Ltd. (AIAHL), and issued non-convertible debentures (NCDs) for about Rs 7,400 crore. “The government can look at refinancing the rest of the amount through NCDs or fresh loans from banks, which will help them reduce the cost of these borrowings,” said a senior Air India official.

Read More at The Economic Times
Clues by NC Team • 30 Jan 2019, Wednesday

According to sources, the government will continue to give conditional financial support to debt-ridden Air India. The financial aid will be subject to improvement in operational efficiencies till the national carrier is divested. The government will decide on the eventual sale and the terms of the transaction in the second half of FY20. The government made an unsuccessful attempt to divest 76% holding in the airline last year. In December, the government got the Parliament’s nod to infuse Rs 2,345 crore of equity into the company.

Read More at Livemint
Clues by NC Team • 28 Jan 2019, Monday

Air India will sport the logo of Mahatma Gandhi to commemorate his 150th birth anniversary later this year. Right now only two aircraft have been painted with the logo of the Father of the Nation and the rest of its fleet of 163 aircraft would also sport his image in due course. “The plan is to have all 163 aircraft belonging to Air India, Alliance Air and Air India Express to be embossed with the logo within the next 3-months. It takes about 5-hours to get the logo embossed on an aircraft," a senior Air India official said.

Read More at Zeebiz
Clues by NC Team • 28 Jan 2019, Monday

Air India will sport the logo of Mahatma Gandhi to commemorate his 150th birth anniversary later this year. Right now only two aircraft have been painted with the logo of the Father of the Nation and the rest of its fleet of 163 aircraft would also sport his image in due course. “The plan is to have all 163 aircraft belonging to Air India, Alliance Air and Air India Express to be embossed with the logo within the next 3-months. It takes about 5-hours to get the logo embossed on an aircraft," a senior Air India official said.

Read More at Zeebiz
Clues by NC Team • 27 Jan 2019, Sunday

The government will release Rs 1,500 crore to Air India next week as part of equity infusion under the turnaround plan. Parliament has approved Rs 2,345 crore equity infusion into the debt-laden national carrier under the second batch of Supplementary Demands for Grants 2018-19. As part of efforts to revive the financial fortunes of the national carrier, the government has decided to transfer debt worth Rs 29,000 crore to Air India Asset Holding Company.

Read More at Business Today
1


Top
©2019 TheNewsClues