Jet Airways, SpiceJet also may bid for debt-ridden Air India

News Network
November 30, 2017

Jet Airways and SpiceJet, the two leading private airlines of India, are likely to join the race to bid for debt-ridden Air India, along with Tata Group and IndiGo.

A top government source: "The economics of the game will change completely for whichever airline gets Air India. With its 14% domestic and 17-18% international market share, getting AI will be a paradigm shift for the successful bidder. Other airlines like Jet and possibly even SpiceJet will have no option but to bid for AI".

However, a SpiceJet official said that the airline is "too small" to bid for AI. Decision will be taken on the bidding once the terms are known, the official added. A top Jet honcho acknowledged to the newspaper that the thinking is on.

Jet Airways on Wednesday announced a major partnership with Air France, KLM and Delta and could get their backing to take over Air India. Abu Dhabi-based Etihad is also a 24 percent stakeholder in Jet.

IndiGo and Tata Group's interest

In July, IndiGo had openly expressed interest in buying the ailing national carrier's international routes and the Air India Express arm.

In a conference call, IndiGo's management had said that they do not have a desire to take all of Air India's debt and that acquiring all of Air India's subsidiaries is an "impossible task".

Earlier in June, Tata Group chairman N Chandrasekaran had informal talks with the government. Media reports also suggested that the Tatas could get Singapore Airlines on board for a minority stake. Tata Group currently operates two airlines in the country, AirAsia India (a joint venture with Malaysia's Air Asia) and Vistara (joint venture with Singapore Airlines).

The divestment process

The Union Cabinet on June 28 had given an in-principle approval for disinvestment of debt-laden state-run carrier Air India.

Stretched thin by competition from leaner and budget airlines, Air India is reeling under a debt of over Rs 52,000 crore, with about Rs 28,000 crore in working capital debt and about Rs 4,000 crore in interest burden alone. The national carrier has not turned profit in 10 years.

On August 8, the parliamentary panel set up to the divestment process heard views of various stakeholders on the disinvestment of national carrier Air India and Pawan Hans Ltd. The government is yet to announce the final terms for sale of AI.

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News Network
April 21,2020

Bengaluru, Apr 21: An FIR has been filed against a Kannada TV anchor allegedly for organising a guest packed wedding at a resort near Bengaluru last week amid lockdown to contain the spread of coronavirus.

Police got the tip-off about the event held on April 18 by locals residing near the resort. Around 20 people were present there to attend the wedding.

The FIR has been filed under National Disaster Management Act (NDMA) and Section 188 and 269 of the Indian Penal Code.

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coastaldigest.com news network
May 20,2020

Mangaluru/Udupi, May 20: Islamic scholars belonging to different schools of thoughts including two prominent Qadis have issued special guidelines asking all Muslims in the region to offer prayers and celebrate Eid al-Fitr at home this year in keeping with the extended covid-19 lockdown.

Eid al-Fitr which marks the end of the month-long dawn-to-sunset fasting of Ramadan is rather a ‘humanitarian event’ than a fiesta. This year Eid is likely to be observed in coastal Karnataka on May 23 or May 24 depending on sighting of the new moon.  

Amid the Covid-19 pandemic, the Muslims are preparing for — and reconciling itself to — a most unusual Eid bereft of all the usual trappings like huge prayer congregations, ceaseless shopping, social visits and the inviting warmth of an Eid Mubarak embrace.

In their separate messages, Udupi Qadi Bekal Ibrahim Musliyar and Mangaluru Qadi Twaqa Ahmed Musliyar have urged Muslims to refrain from all kinds of public gatherings during Eid. Noting that Muslims in the region have followed all the advisories in issued by the government to contain the spread of coronavirus in the blessed month of Ramadan, they have urged them to follow the guidelines during Eid too.

On social media groups, messages like “no new clothes, just wear your best clothes” are being circulated among family and friends, urging people to fill the festive void with the spirit of giving. The suggestions range from paying a needy child’s school fee or someone’s rent to helping a lockdown-hit trader revive his business.

Following guidelines are issued by the top clerics ahead Eid

1) There will be no Eid prayer in mosques or Eid-gahs. Hence, Muslims should offer Eid al-Fitr prayer in their homes with family members.

2) Distributing Zakat al-Fitr among needy is mandatory. However necessary safety measures should be taken while going out such as wearing masks and maintaining physical distance. As there is lockdown from 7 p.m. to 7 a.m. every day, Zakat al-Fitr can be distributed a day before Eid or on the day of Eid before evening. 

3) Women, children and elderly people should not step out of the houses.

4) Avoid visiting graveyards or other places.

5) All mosques are closed due to lockdown. Hence, observe Eid in a simple way and set an example for the society. 

6) Strictly follow all the guidelines issued by the state and central governments

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News Network
January 6,2020

Bengaluru, Jan 6: Former Governor of Karnataka T N Chaturvedi passed away on Sunday late night at a private hospital in Noida.
He was 90.

T N Chaturvedi served as of Comptroller and Auditor General of India from 1984 to 1989. He was awarded the Padma Vibhushan in 1991.

An officer of Indian Administrative Service (IAS), Chaturvedi held several key posts after retirement including Governor’s post of Karnataka and Kerala. He was the governor of Karnataka from 2002 to 2007 and held additional post of Governor of Kerala following death of then Kerala governor Sikander Bakht. He held the post from Feb 2004 to June 2004 and was replaced by newly appointed Governor.

An officer of Indian Administrative Service (IAS), Chaturvedi held several key posts after retirement including Governor’s post of Karnataka and Kerala.

Expressing grief on the demise of T N Chaturvedi Vice President M Venkaiah Naidu, in a tweet said, “T N Chaturvedi was an administrator par excellence, towering intellectual and true nationalist and he was known for his erudition, integrity and knowledge. He had an illustrious career in public life and served every role with distinction.”

Even former Union Minister Anant Kumar Hegde condoled Chaturvedi's demise. "Humble tributes to our ex-Governor of Karnataka TN Chaturvedi who passed away last evening. He was an outstanding bureaucrat who was CAG in the 90's before becoming the Governor of our state. May his soul attain Sadgati. Om Shanti Shanti Shanti!" Hegde tweeted.

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