Singapore Airlines says options open on Air India disinvestment

Air India

The change in FDI rule is expected to attract more bidders for the airline, reports said. "Our priority is further expansion of Vistara".

Singapore Airlines owns 49% stake in Vistara, while the remaining shareholding is with Tatas.

Besides, the Singapore Airlines group has significant number of flights connecting various Indian cities.

The Indian government has allowed foreign airlines to have up to 49 per cent stake under the approval route in Air India subject to certain conditions.

On Wednesday, the government stated, "As per the extant policy, foreign airlines are allowed to invest under government approval route in the capital of Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49 per cent of their paid-up capital".

Devesh Agarwal, a Bengaluru-based aviation analyst, said it appears that the government has not received an acceptable response to its initial efforts to sell Air India.

Currently, Air India is incurring a net loss of $569 million annually as per the latest official data presented by India's Civil Aviation Ministry in the Parliament.

The NDA government's move to allow FDI by foreign airlines in debt-ridden national carrier Air India upto 49 per cent is a reversal of the previous UPA-2 government's decision to keep Air India out of the FDI policy.

Last week, Leslie Thng, CEO, Vistara said that Tata Sons and Singapore Airlines have an "open mind" on the issue of the Air India disinvestment and that they will evaluate any potential business case therein.

Jitendra Bhargava, former executive director of Air India and author of the book "The Descent of Air India", said the government has to realise that it is not selling a hot product, but something which has a huge debt, public perception, etc.

Singapore Airlines will keep options open on disinvestment of Air India.

"We continue to focus on our organic growth and will partner with other airlines where it benefits our customers and makes commercial sense", Emirates said in a statement.

Related News:

  • Street Analysts View On Corcept Therapeutics Incorporated (CORT), Palatin Technologies, Inc. (PTN)

    The firm operates through Commercial Banking, Consumer Banking, Non-Strategic Portfolios, and Corporate and Other divisions. Wall Street is only getting more bullish on the stock, with 3 of analysts who cover CORT having a buy-equivalent rating.
    Two Sam's Clubs in Wisconsin to close

    Two Sam's Clubs in Wisconsin to close

    The company did not respond to CBS News' request for a comment, and did not elaborate on how many stores would be closed and when. Sam's Club shutdown? Employees at this S Loop store tell me they showed up to work and were told store is closed effective today.
    Kendrick Lamar, Jay Rock, And Future Want It All On

    Kendrick Lamar, Jay Rock, And Future Want It All On "King's Dead"

    Together, Jay Rock , Future and Lamar make for an interesting trio, and one that's not as odd as it might sound on paper. More music from the anticipated Black Panther soundtrack has officially arrived. "Y'all want me under", he raps.
  • Swiss National Bank Sells 33100 Shares of Time Warner Inc. (TWX)

    Sabal Trust Co decreased its stake in Time Warner Inc ( TWX ) by 97.37% based on its latest 2017Q3 regulatory filing with the SEC. L And S Advsrs reported 14,370 shares stake. (NYSE:TWX) on Monday, October 16 with "Hold" rating. (NYSE:TWX) for 665,767 shares.

    Tradition Capital Management LLC Invests $333000 in CVS Health Corp (CVS)

    In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction on Thursday, December 21st. It also reduced American Equity Investment Life Hldgs (NYSE:AEL) stake by 53,439 shares and now owns 598,758 shares.

    Ascena Retail Group's (ASNA) "Buy" Rating Reaffirmed at FIG Partners

    The fund owned 919,468 shares of the specialty retailer's stock after purchasing an additional 306,950 shares during the quarter. COPYRIGHT VIOLATION NOTICE: This news story was first published by StockNewsTimes and is the sole property of of StockNewsTimes.
  • Mets' Matt Harvey receives slight raise after rocky 2017 season

    Mets' Matt Harvey receives slight raise after rocky 2017 season

    In the bullpen, Jeurys Familia and the team settled at $7.9 million, AJ Ramos at $9.25 million and Hansel Robles for $900,000. Duda hit.246 with 17 home runs and 37 RBIs with the Mets last season before he was traded to the Tampa Bay Rays in late July.
    Zac Brown Band coming to Sioux Falls in June

    Zac Brown Band coming to Sioux Falls in June

    With his new band, Sir Rosevelt, Zac Brown has a new song, "It Goes On", in the new Chris Hemsworth war film, "12 Strong". Zac Brown Band returns to Northeast Ohio this summer as part of their 27-date " Down the Rabbit Hole Live " tour.
    B&M boosted by new stores

    B&M boosted by new stores

    Sales across B&M stores increased by 12.9% to £837.3 million during the 13-week period, with like-for-like sales up by 3.9%. B&M said: "Management is confident that the Group will meet market expectations for EBITDA for the current financial year".
  • Celebrity Big Brother eviction RESULTS: India Willoughby first to be evicted

    Celebrity Big Brother eviction RESULTS: India Willoughby first to be evicted

    Fans labelled her a "hypocrite" after finding photos of her posing with drag queens during Pride on her Instagram account. India, who was the UK's first transgender newsreader, will face Love Island's Jonny Mitchell in this evening's eviction.
    IDC, Gartner offer different views on PCs' Q4

    IDC, Gartner offer different views on PCs' Q4

    It warns that while the fourth quarter was reason for encouragement, there's still a way to go before things turn around. This was based on growth in Asia and Latin America, a minor decline in EMEA and an 8 per cent drop in the US.

    Nuveen Pennsylvania Muni Value Fund (NPN) TEMA Picking up Steam

    Robinson Capital Management Llc holds 1.73% of its portfolio in Nuveen Enhanced Municipal Value Fund for 262,797 shares. Nuveen Enhanced Municipal Value Fund ( NYSE NEV ) traded down $0.02 during mid-day trading on Thursday, hitting $14.21.


Most liked

Ryan: Reported '****hole' comment by Trump 'very unfortunate, unhelpful'
According to the Washington Post , Trump countries such as Haiti, El Salvador, as well as Africa as "shithole countries". Trump on Friday, "The language used by me at the DACA meeting was tough, but this was not the language used".

20-year-old Port Richey man claims $450 million MEGA MILLIONS jackpot
A 20-year-old from Florida says he plans to "have some fun" after being named sole victor of a $451m (£330m) lottery jackpot. Missler said he wasn't surprised that he had won and that he had "a feeling" that he might.

Deadly 'swatting' suspect's extradition to Kansas could take up to 90 days
Los Angeles District Attorney Jackie Lacey said Barriss was scheduled to appear in court in Los Angeles on Wednesday. Officers subsequently surrounded the home at the address the caller provided and prepared for a hostage situation.

China's trade with North Korea plunges as sanctions tighten
In the final month of 2017, imports dropped 81.6 percent, while exports fell 23.4 percent. China has "closed some sanctions gaps", Brian Hook, director of policy planning for U.S.

Austin Aries Returns To Impact Wrestling And Wins World Title
As noted, last night was the first Impact Wrestling television taping under new creative Executives Don Callis and Scott D'Amore. Brian Cage now joins his fellow Lucha Underground colleagues Johnny Impact, Taya Valkyrie, and Sami Callihan in the Impact Zone.

Celtics get ugly win over Minnesota
If you do like Boston, though, look to increase their odds a bit by backing them to win between 1-10 points at $2.70. How rare was Tatum's six-block, three-steal game? One was from a 91-84 road loss to the Boston Celtics at TD Garden.

Traders Purchase Large Volume of Vail Resorts Put Options (MTN)
Vail Resorts (NYSE: MTN ) last posted its earnings results on Thursday, December 7th. 923 are owned by Panagora Asset Mngmt. Following the transaction, the director now directly owns 1,663 shares of the company's stock, valued at $368,421.02.

Final Fantasy XII PC Port Release Date Has Been Announced
My main right now is Terra (FFVI), but I want to master Ramza (FF Tactics). The best part? You won't need a PlayStation Plus membership to access it.

Kenya's president arrives in East London for ANC's anniversary
President Uhuru Kenyatta addresses a joint press briefing with his South African host President Jacob Zuma on January 11, 2018.

Pound hits highest level since Brexit vote
The FTSE 100.FTSE briefly fell into negative territory and touched its session low before rebounding and closing higher. Others said the pound would struggle to maintain Friday's gains without more positive news.

Emerson Electric Company (EMR) Given Average Recommendation of "Hold" by Brokerages
Emerson Electric Co.'s P/B is valued at 5.32 exhibiting the investor sentiment on the value of the stock to its actual value. The industrial products company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83.

Davis RM Inc. Sells 3194 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)
This company shares are 13.93% off its target price of $55.77 and the current market capitalization stands at $203.07B. Another trade for 23,110 shares valued at $740,883 was made by Walker Karen on Monday, September 11. (NASDAQ: CSCO ).

Blue Jays sign star Josh Donaldson to one-year, $23-million deal
As a file-and-trial team, the only way to avoid a hearing once the sides trade numbers is a multi-year agreement. Baltimore Orioles third baseman Manny Machado is another high-profile player in his final year of arbitration.

Digging Up the Facts on Union Pacific Corporation (UNP)
Looking at some alternate time periods, the 12 month price index is 1.16150, the 24 month is 0.97507, and the 36 month is 0.65077. The stock of Union Pacific Corporation (NYSE:UNP) earned "Outperform" rating by Daiwa Securities on Thursday, January 11.

Retail Sales Grew 0.4% in December
Government statisticians said retail sales rose 0.4 percent in December, following a 0.9 percent surge in November. December e-commerce sales rose 1.2% from November and 12.7% from December 2016, according to the report.