Air India bidders need to absorb $3.3 bn debt to buy carrier

News Network
January 27, 2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
September 16,2024

trio.jpg

New Delhi: With Arvind Kejriwal announcing that he will resign as Delhi Chief Minister soon and return to office only after the people's verdict on the allegations of corruption against him, the big question is who in the Aam Aadmi Party (AAP) will get the top job.

Assembly polls in Delhi are due in February next year, even though Mr Kejriwal yesterday demanded that the election be held in November along with the Maharashtra polls. Former Deputy Chief Minister Manish Sisodia, too, has said he will go to the people and return to the top office only after re-election. This effectively means that the top leaders of AAP are not in the race for the Chief Minister's post.

Even though this Chief Ministerial stint will only be for a few months, the AAP leadership would be looking to choose a prominent leader who can articulate the party's position on key issues and has wide acceptability among the party ranks.

Here are five leaders who can make the cut

Atishi:

Delhi Minister Atishi, holding key portfolios such as education and PWD, is one of the key contenders. An Oxford University alumnus and a Rhodes scholar, Ms Atishi has worked extensively in the AAP's flagship exercise to overhaul education in Delhi's schools. An MLA from Kalkaji, the 43-year-old became a minister after Mr Sisodia was arrested in a corruption case linked to Delhi's now-scrapped liquor policy. When Mr Kejriwal and Mr Sisodia were behind bars, Atishi articulated the party's position. On August 15, Mr Kejriwal chose her to hoist the tricolour at Delhi government's Independence Day event. While Delhi Lieutenant Governor VK Saxena foiled the plan, it was clear that the AAP leadership places a lot of faith in Ms Atishi.

Saurabh Bharadwaj: 

Mr Bharadwaj is a three-time MLA from Greater Kailash and holds portfolios such as vigilance and health in the Arvind Kejriwal government. He, too, was named a minister after Mr Sisodia's arrest in the liquor policy case. Mr Bharadwaj, who has worked as a software engineer in the past, was also a minister in Arvind Kejriwal's 49-day government. He is also a national spokesperson of the AAP and was articulating the party's position when its top leaders were in jail after being arrested by central agencies in corruption cases.

Raghav Chadha: 

A member of the AAP's national executive and political affairs committee, Mr Chadha is a Rajya Sabha MP from the party and one of its top faces. Mr Chadha has earlier worked as a chartered accountant and has been in the AAP since its inception. He has been an MLA from Rajinder Nagar and played a key role in the AAP's thumping victory in Punjab in the 2022 state polls. The 35-year-old is among the most prominent young politicians in the country and is known for articulating AAP's position on key issues in Parliament.
Kailash Gahlot: 

Kailash Gahlot:

A lawyer by profession, Mr Gahlot is among the senior members of the AAP government in Delhi and holds key portfolios such as transport, finance and home affairs. The 50-year-old leader is MLA from Delhi's Najafgarh constituency since 2015. An advocate who has practised in both Delhi High Court and Supreme Court, he has served as a member executive in the high court bar association between 2005 and 2007

Sanjay Singh: 

A Rajya Sabha MP since 2018, Sanjay Singh is one of the AAP's most prominent faces known for his spirited speeches in Parliament. The 52-year-old leader is among the founder members of the party and is a member of its national executive and political affairs committee. He is also a regular in the party's media interactions to articulate its position on key issues. Sanjay Singh was also arrested in connection to a corruption case linked to the Delhi liquor policy case and is currently out on bail, like Mr Kejriwal and Mr Sisodia.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
September 20,2024

Udupi: A vigilant Railway Protection Force (RPF) constable, Aparna K T, demonstrated remarkable presence of mind when she rescued a student who slipped while trying to board a moving train at Udupi Railway Station on Friday morning.

The incident occurred as passenger train number 06602 arrived at the station around 7:30 AM. The student, traveling from Mangaluru to Gokarna, had briefly alighted to purchase snacks. However, as the train began moving, she hurried back towards the carriage with the snacks in hand. In her rush, she lost her footing, slipping dangerously between the platform and the moving train.

udupitrain.jpg
Woman constable Aparna K T was given a cash reward of Rs 5000.

 

Constable Aparna, who had been closely monitoring the passengers, immediately sprang into action. “I saw her running towards the train and alerted everyone by blowing my whistle. She slipped, and her legs were caught between the platform and the train. Without hesitation, I pulled her out with the help of others nearby,” she recalled.

Thanks to Aparna’s quick thinking and the swift response of the railway staff, the train was stopped in time. Railway personnel, including the guard and loco pilot, were immediately informed, and they acted promptly to halt the train using both flag signals and a walkie-talkie.

RPF Inspector Madhusoodhanan PV arrived at the scene shortly after to check on the passenger's condition. The shaken but uninjured student was given water and helped back onto the train to safely continue her journey.

In an added measure of care, the RPF post at Bhatkal was notified to follow up on the passenger’s well-being during her journey. The student, fortunately, reached her destination without further incident.

The heroic rescue was captured on CCTV and has since gone viral on social media, earning widespread praise. In recognition of her bravery, Regional Railway Manager (RRM) Karwar awarded Constable Aparna a cash reward of ₹5,000, commending her quick action that averted a potentially tragic accident.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
September 8,2024

crash.jpg

In a heartbreaking incident, a beautiful journey of love and new beginnings was abruptly shattered by a tragic accident on the Mangaluru-Bengaluru highway at Talapady in Bantwal taluk on Saturday, September 7.

Manasa, a newlywed bride, lost her life in a devastating car accident, leaving her husband, Aneesh Krishna, critically injured.

The couple, who had just begun their marital journey on September 5, was returning from a temple visit to settle dues when fate took a cruel turn. Their Alto car, in which they were traveling from B C Road towards Mangaluru, skidded off course after the driver lost control, causing the vehicle to jump the divider and collide head-on with a KSRTC bus.

In the blink of an eye, their world crumbled. The impact was so severe that their car was left mangled, with Manasa tragically losing her life at the scene. Aneesh, fighting for his life, has been rushed to a private hospital in Mangaluru.

Manasa and Aneesh, both professionals working in a private company in Mangaluru, had dreams of a life together, filled with shared moments and cherished memories. The couple's love story, celebrated just days ago with their wedding at the Denthadka Temple, now echoes in the hearts of their grieving families, forever marred by this tragic accident.

The Melkar police arrived swiftly at the scene and have begun their investigation, hoping to bring clarity to this devastating event.

In the aftermath of this tragic accident, the community mourns the loss of a young bride and prays for the recovery of a husband left fighting for his life.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.