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
January 30,2020

Bengaluru, Jan 30: There are around 3 lakh Bangladeshis across Karnataka and around 3,000 of them left Bengaluru following the recent crackdown, according to Bhaskar Rao, Bengaluru city police commissioner.

It's the first time a high-ranking official has put a number to Bangladeshis in Karnataka following the debate over the new citizenship law.

At a conclave on 'Construction Workers Safety, Health and Welfare' organised by the labour department and IIMB here, he said the estimate was arrived at based on information sourced from Bangladeshis deported recently.

There's been no study to ascertain the Bangladeshi population in the state, Rao said, adding that most illegal Bangladeshis in Bengaluru are victims of human trafficking.

"They come to Bengaluru for employment. Unlike other cities, Bengaluru has a lot of job potential and pays good salaries too. There are a lot of Bangladeshis working in the construction industry," Rao said.

Workers from Bangladesh demand lower wages. While other labourers demand around Rs 500 to Rs 600 per day, Bangladeshi workers don’t complain about being paid around Rs 100-150,” Rao said, adding that this has encouraged human traffickers to increasingly bring in Bangladeshis.

Suresh Hari, chairman, Confederation of Real Estate Developers Association of India, however, said they’re not aware of the nationality of their workers as contractors bring workers registered for tasks. “It’s difficult to say where they are from as there’s also construction work outside Credai’s purview,” Hari said.

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News Network
March 9,2020

Mangaluru, Mar 9: A person who arrived at the airport in Mangaluru from Dubai and was admitted to the isolation ward of a hospital with symptoms of coronavirus has gone missing, sources said.

The patient, who arrived on Sunday, was shifted to the district Wenlock hospital with a high fever and a few symptoms of coronavirus.

He reportedly argued with the hospital staff late in the night that he had not contracted the virus and left the hospital saying he will take treatment in a private hospital.

The hospital health officer called up the police and a high alert has been sounded in coastal districts to locate the person who has 'escaped' from the hospital.

Dakshina Kannada district health officer Sikandar Pasha had earlier said the patient will be kept under observation for 24 hours and will be discharged after routine tests.

The district health department on Monday lodged a complaint with the Mangaluru police station and investigation is on.

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coastaldigest.com news network
June 15,2020

The Centre’s step-motherly attitude towards Kannadigas stranded in the Gulf countries in general and Saudi Arabia in particular has prompted the Kannadigas to resort social media campaign once again.

A couple of weeks ago, Twitterati had launched a campaigned to bring back Kannadidags stranded in Saudi Arabia. A variation of the hashtag #SaudiKannadigasNeedFlights trended today. 

Trend Setters India, which has taken the twitter campaign initiative, had urged the Kannadigas around the world to join the twitter storm at 4 p.m. IST on June 15, to exert pressure on the authorities concerned. Around 7 p.m. the hashtag began trending with thousands of tweets.

Millions of Kannadigas are working in Middle Eastern countries like Saudi Arabia and United Arab Emirates. They contribute greatly to the Indian economy.

Even though government of India has launched Vande Bharat Mission for the repatriation of Indians stranded across the world, it has operated only a few flights from Saudi Arabia to Karnataka so far. Thousands of Kannadigas including pregnant women, elderly people, those who have lost jobs and those who need emergency medical care are still waiting for repatriation flights from Saudi Arabia to Mangaluru and Bengaluru.
 

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