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Disinvestment - Air India has youngest fleet of 146 aircrafts

Published: Jan 27, 2020

By TIOLCORPLAWS News Service

NEW DELHI, JAN 27, 2020: THE MoS, Mr Hardeep S. Puri, today said that the newly constituted Air India Specific Alternative Mechanism (AISAM), headed by Home Minister and comprising of Union Ministers of Commerce & Industry, Finance & Corporate Affairs and Civil Aviation, as members, has approved the release of the Preliminary Information Memorandum (PIM) for inviting Expression of Interest (EOI) from the Interested Bidders (IBs) for Strategic Disinvestment of Air India. He informed that the Government has released the PIM for seeking EOI for strategic disinvestment of Air India.

Addressing the Media, Mr Puri informed that Air India along with Air India Express has 146 aircraft in its fleet, 82 of which are owned by it; have worldwide bilateral rights and spread over domestic as well as international slots and added that during 2018-19, both Air India and Air India Express carried around 26.2 million passengers. Air India and Air India Express have average aircraft age of 8 years which is among the youngest fleet. 27 Boeing-787 with Air India are as young as 5 years and 27 Airbus-320 Neo (CFM engines) are as young as two years. Air India and Air India Express have almost 51% share of the international traffic to/from India among Indian carriers and 18 % share including global carriers (ex-India).

Pointing out that Air India has coverage of 98 destinations with 56 domestic and 42 international destinations, Mr Puri informed that Air India offers 75 additional destinations through its secondary network of code share operations. Air India and Air India Express have a combined revenue of Rs.30,632 crore in 2018-19, which is the highest among Indian carriers. Air India + Air India Express employee cost as % of revenue is about 11% which is comparable to Indian carriers and much lower to International carriers.  AISATS provides in-house ground handling facilities at key metro airports - Delhi, Bengaluru, Hyderabad, Thiruvananthapuram and Mangalore. Even after infusion of about Rs.30,500 crore as per Turn Around Plan since 2012, Air India has been running into losses year after year. Due to its accumulated debt of about Rs.60,000 crore, its financial position is in a very fragile condition.

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