Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Twitter
Snapchat
OPPO
Anand Mahindra
Mahindra Group
Bharat Biotech
Stock Market
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / IndiGo is no longer buying Air India
Business

IndiGo is no longer buying Air India

IndiGo is no longer buying Air India
Written by NewsBytes Desk
Apr 06, 2018, 10:57 am 2 min read
IndiGo is no longer buying Air India
Credits:

IndiGo, India's largest domestic air carrier, which was among the first to express interest in buying Air India after the government announced its disinvestment, has now backed out, saying it doesn't have the capability required to successfully take on the airline's operations. Notably, 76% of stakes of Air India are up for sale. Read on know more.

Explanation
Why did Indigo back out?

"That option (Air India's acquisition) is not available under the government's current divestiture plans for Air India," Aditya Ghosh, director-president of InterGlobe Aviation Ltd, the company behind IndiGo, said in a statement. "Also, we do not believe that we have the capability to take on the task of acquiring and successfully turning around all of Air India's airline operations," he further added.

Plans
Air India's sale to help India achieve 2018-19 disinvestment target

The government also plans to sell 100% of Air India Express Ltd, the airline's low-cost international carrier and 50% of its airport ground-handling venture, SATS Airport Services. Part of the 24% stake that it will retain, the government shall transfer to employees under a stock option scheme. Air India's sale should help India achieve its mammoth Rs. 80,000 crore disinvestment target for 2018-19.

Criteria
Buyers should be Indian, must retain the name Air India

The civil aviation ministry wants Indian entities to buy the airline and retain its name Air India. Potential buyers are expected to have a minimum net worth of Rs. 5,000 crore (doesn't apply to Indian airlines) and must have reported profits after tax in at least three of the last five years. Interested parties can respond by 5pm on May 14.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
NewsBytes Desk
NewsBytes Desk
Mail
Latest
India
IndiGo
Air India
Disinvestment
Ministry of Civil Aviation
Related
Latest
Massive sunspot facing Earth doubles in size; raises serious concerns
Massive sunspot facing Earth doubles in size; raises serious concerns Technology
Sena rebel Shinde claims he has 40 MLAs with him
Sena rebel Shinde claims he has 40 MLAs with him Politics
'Rocketry': Shah Rukh Khan, Suriya didn't charge anything, reveals Madhavan
'Rocketry': Shah Rukh Khan, Suriya didn't charge anything, reveals Madhavan Entertainment
Who is Draupadi Murmu, NDA's pick for President
Who is Draupadi Murmu, NDA's pick for President Politics
Aakash Chopra highlights consistency of Dinesh Karthik: Key stats
Aakash Chopra highlights consistency of Dinesh Karthik: Key stats Sports
India
Agnipath scheme: Government increases age limit to 23 amid protests
Agnipath scheme: Government increases age limit to 23 amid protests India
Nagpur: People throng ATM 'faultily' dispensing 5 times extra cash
Nagpur: People throng ATM 'faultily' dispensing 5 times extra cash India
Recipe of the day: Kathal biryani
Recipe of the day: Kathal biryani Lifestyle
India's air pollution reducing 5 years of life expectancy: Study
India's air pollution reducing 5 years of life expectancy: Study India
5 tallest statues in the world every traveler must visit
5 tallest statues in the world every traveler must visit Lifestyle
More News
IndiGo
Air India planning to buy 300 aeroplanes in largest-ever order
Air India planning to buy 300 aeroplanes in largest-ever order Business
Indigo to conduct study for handling specially abled passengers better
Indigo to conduct study for handling specially abled passengers better India
IndiGo fined Rs. 5 lakh for mishandling special needs child
IndiGo fined Rs. 5 lakh for mishandling special needs child India
Fliers rebuke SpiceJet, IndiGo for poor service, behavior
Fliers rebuke SpiceJet, IndiGo for poor service, behavior Business
Rakesh Jhunjhunwala-backed Akasa Air reveals first pictures
Rakesh Jhunjhunwala-backed Akasa Air reveals first pictures Business
More News
Air India
Air India employees asked to vacate colonies by July 26
Air India employees asked to vacate colonies by July 26 India
Air India flight returns to Mumbai after engine stops mid-air
Air India flight returns to Mumbai after engine stops mid-air India
Aviation veteran Campbell Wilson is new CEO of Air India
Aviation veteran Campbell Wilson is new CEO of Air India Business
Tata Sons' chief N Chandrasekaran is new Air India chairman
Tata Sons' chief N Chandrasekaran is new Air India chairman Business
Ex-Turkish Airlines chairman Ilker Ayci declines Air India CEO role
Ex-Turkish Airlines chairman Ilker Ayci declines Air India CEO role Business
More News
Disinvestment
Jet Airways 'can't run after 60 days,' stake-sale attempts on
Jet Airways 'can't run after 60 days,' stake-sale attempts on Business
Mumbai's iconic Air India Building getting sold?
Mumbai's iconic Air India Building getting sold? Mumbai
After Air India fiasco, Modi-govt now plans Coal India sale
After Air India fiasco, Modi-govt now plans Coal India sale Business
Shame Game: Let's decode the Air India disinvestment plan
Shame Game: Let's decode the Air India disinvestment plan Business
Here's all you need to know about Air India sale
Here's all you need to know about Air India sale Business
More News
Ministry of Civil Aviation
Regular international flights resume from today; everything you should know
Regular international flights resume from today; everything you should know India
Airports Authority issues new guidelines as international flights resume tomorrow
Airports Authority issues new guidelines as international flights resume tomorrow India
India restores regular visas to all, e-visas to 156 countries
India restores regular visas to all, e-visas to 156 countries India
India to resume regular international flights from March 27
India to resume regular international flights from March 27 India
India extends ban on international flights 'until further orders'
India extends ban on international flights 'until further orders' India
More News
Related
No restrictions on domestic flight capacity from October 18: Centre
No restrictions on domestic flight capacity from October 18: Centre India
Next News Article
Next News Article

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022