Govt to exit Air India? Private airlines can handle entire market, says Jaitley

May 29, 2017

New Delhi, May 29: Finance Minister Arun Jaitley today said the government was considering exiting Air India operations.

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"There are many private airlines like Jet Airways, IndiGo, GoAir. If 86 per cent of the aviation market can be handled by private sector, then 100 per cent can also be handled by the private sector," Mr Jaitley told DD News in an interview.

National passenger carrier Air India currently has a market share of 14 per cent and a debt of Rs. 50,000 crore. The private airlines enjoy 86 per cent of the market share.

"Air India has a debt of Rs. 50,000 crore. Its valuation of aircrafts will be at Rs. 20,000-25,000 crore. The civil aviation ministry is exploring all possibilities," Mr Jaitley said.

Minister of State for Civil Aviation Jayant Sinha had earlier said that Air India's debt needs to be reduced and balance sheet restructured as part of its financial transformation.

"Air India's balance sheet has to be restructured and debt reduced. The other issue is that corporate governance and professional management need to be put in place. Besides it has to be seen how best use can be made of the non-core assets of Air India," Mr Sinha had said.

While rumours of the government selling stake in the national carrier have been doing the rounds, there has been no official word on the same. The civil aviation ministry has been maintaining that it wants the airline to survive. In the past also, there have been at least two significant attempts for disinvestment of Air India, but those efforts did not materialise.

Last week, Civil Aviation Minister Ashok Gajapathi Raju said Air Indias books are "bad", and "business as usual" is not going to help it, but the government wants the airline to survive. He had also said the airline was grappling with "legacy" issues.

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May 12,2024

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Bengaluru: Karnataka Home Minister G Parameshwara on Sunday said that the Special Investigation Team (SIT), probing into sexual abuse charges against Hassan MP Prajwal Revanna, will not be going abroad to bring him back, and the Interpol will share information about him.

He also cautioned political leaders about making public statements or sharing information in connection with the case, which is sensitive.

The 33-year-old Prajwal Revanna, who is grandson of JD(S) patriarch and former Prime Minister H D Deve Gowda, is facing charges of sexually abusing several women.

The scandal has raised a political storm with the ruling Congress and BJP-JD(S) engaged in a slugfest.

Prajwal Revanna is said to have flown abroad on April 27, a day after the first phase of Lok Sabha polls in Karnataka was held.

He was BJP-JD(S) alliance's joint candidate from Hassan Lok Sabha segment, which went to polls in the first phase.

"No, there is no such option. Blue Corner Notice has been issued and the Interpol will share the information. The respective country in which he is found or identified - they will inform them (Interpol) and then our agencies, the CBI will get to know, and through them we will get to know."

"So far there is no information," Parameshwara said.

He was responding to a question on reports about the SIT team travelling abroad in connection with the case.

Speaking to reporters, he said, "Investigation is going on, not to affect the investigation we don't want to share any information."

Responding to a question on Union Minister Pralhad Joshi's statement alleging conspiracy behind the arrest of BJP leader Devaraje Gowda, for making allegations against Congress leaders in connection with the case, Parameshwara said, "If anyone says anything I cannot react to it. We cannot respond to every public statement. As this is a serious case, we cannot share information until the investigation is completed."

"My request to the public and to our leaders is to be cautious while making statements. If not, based on the statements given by them, we may have to call them for investigation and record their statement under 41 A of CrPC," he added.

Asked whether JD(S) leader H D Kumaraswamy will also be served notice, the Minister said he is a former CM and that he believes that the former has taken this case seriously.

"Before giving any statements on this case or before sharing any information in the public domain, one has to be cautious, and this applies to all," he added.

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May 10,2024

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Mangaluru, June 10: The National Investigation Agency (NIA) has arrested another prime accused in 2022 BJP Yuva Morcha worker Praveen Nettaru murder case. 

32-year-old Jilla BJP Yuva Morcha committee member Nettaru was hacked to death in front of his broiler shop in Bellare of Dakshina Kannada by bike-borne miscreants in July 2022. The case is being investigated by the NIA and several arrests have been made so far.

Mustafa Paichar, accused number four in the case, was absconding after the murder and the NIA had declared a Rs 5 lakh reward to catch him. 

He was arrested at Sakleshpur in Hassan district by the NIA team led by Inspector Shanmugam. 

According to officials Mustafa was reportedly a member of now banned Popular Front of India and a resident of Shantinagar in Sullia in Dakshina Kannada.

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May 8,2024

Mangaluru: The Mangaluru North police have apprehended a minor in connection with alleged voyeurism incident reported in a private medical college in Mangaluru. 

DCP (Law and order) Sidharth Goyal said that the minor was produced before JJ Board as per due procedure. The incident came to light when a mobile phone was found in women's washroom in the college. 

The mobile-phone was discovered as it was ringing even when no one was in the toilet by the security guard of the college. 

Investigations revealed that the mobile phone had been strategically placed in the restroom. As a result, a case has been registered under north police station.

Further scrutiny into the matter uncovered the identity of the accused, a minor male aged 17, who had gained access to the college premises under the guise of being a patient. Following his apprehension, the accused was presented before the Juvenile Justice (JJ) Board in adherence to legal protocols.

The phone has been seized and a case has been booked under IPC section 354 (C), said the DCP.

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