Privatisation of the national carrier, albeit in a way to rid the govt of the massive debts, also enables its investors to enjoy benefits that come hand-in-hand with the airlines.
The cabinet today approved바카라 웹사이트foreign바카라 웹사이트airlines to buy바카라 웹사이트49%바카라 웹사이트stake in바카라 웹사이트debt-ridden Air India under approval route.바카라 웹사이트The national carrier has a debt burden of more than Rs 52,000 crore, so why would an international airline바카라 웹사이트in their senses바카라 웹사이트want to be a part of it, and be no more than a minority shareholder?
바카라 웹사이트Singapore Airlines said it will keep options open on the airline stake.바카라 웹사이트
"Our priority is the further expansion of Vistara. However, we will keep our options open with respect to the proposed disinvestment of Air India," Singapore Airlines said in an e-mailed statement to PTI.
There are reasons why Air India stakes could be yummy for the investors.바카라 웹사이트Privatisation of the national carrier, albeit in a way to rid the govt of the massive debts, also enables its investors to enjoy benefits that come hand-in-hand with the airlines.
1) Flying Rights
Any foreign airline(s) investing in Air India, will be able to utilise바카라 웹사이트all lucrative바카라 웹사이트air바카라 웹사이트routes,바카라 웹사이트including international, which Air India continues to monopolise.바카라 웹사이트
Becoming a shareholder in the debt-ridden airlines, albeit a minor one, by default, enables the investor airline to fly on all routes Air India flies in, and have access to it.바카라 웹사이트Air India, which has a huge ready fleet strength, has air routes in several countries, including Afghanistan, Australia, Italy, Bahrain, Canada, France etc.바카라 웹사이트
2) Bilateral Entitlements바카라 웹사이트Come On A Platter
Before airlines of a country can operate its services to another country, a바카라 웹사이트treaty-level agreement with the destination country's government바카라 웹사이트has to be바카라 웹사이트negotiated.바카라 웹사이트These treaties are known as bilateral air services agreements.바카라 웹사이트The treaties thus signed contain provisions on traffic rights, number of flights, tariffs, and designation, ownership, and control.바카라 웹사이트
On all the bilateral routes utilised between Air India and carrier of other countries, minority shareholder in the national carrier, will automatically be able to have access to them.바카라 웹사이트
3) Hangar And Parking Rights
Air India has authorised Hangar spaces and Parking Rights in all major airports across the world.바카라 웹사이트
Hangar spaces are closed building structures constructed to accommodate an ariplane when not flying.바카라 웹사이트
Parking rights to those hangar spaces already allotted to Air India will be accessed by the foreign airline shareholder as well.바카라 웹사이트
4) Real Estate In India
The national carrier holds바카라 웹사이트large swathes바카라 웹사이트of land and real estate in India, which the suitor of the airlines may be allowed to바카라 웹사이트develop.바카라 웹사이트바카라 웹사이트
Non-core assets of Air India, including immovable properties, land parcels, and art treasure are not doing much better than the debt-ridden airlines.바카라 웹사이트 However, their monetary worth is enviable to say the least. Nevertheless, shareholder(s) in the airlines may not be able to bid for it. A report published by the Business Standard in July last year explains why.
Quoting officials, the report said that locating and registering바카라 웹사이트Air India라이브 바카라 vast land pool and real estate would take the disinvestment process much longer. Besides, most of those assets are involved in litigation across many courts in the country.
The aforementioned benefits notwithstanding, the foreign airline willing to invest in Air India will have to take up a few liabilities, including the massive debts and the displeasure of its employees and trade unions over its disinvestment.
Staff and employees in Air India are unhappy with the privatisation of the airlines.바카라 웹사이트 Unlike contemporary airlines, employees at Air India follow the government's age of retirement, which is 60. The airline, being a national carrier, does not follow a corporate culture that may be found in private airlines.바카라 웹사이트
Privatisation of the airlines may thus lead to a cultural makeover.바카라 웹사이트
바카라 웹사이트Air Corporation's Employees Union (ACEU), the biggest union of바카라 웹사이트Air바카라 웹사이트India바카라 웹사이트employees, representing nearly 8,000 of the total 24,000 staff members had protested against the privatisation, urging the Prime Minister not to go ahead with it.바카라 웹사이트
"We appeal to the바카라 웹사이트government바카라 웹사이트of바카라 웹사이트India바카라 웹사이트not to go for privatisation and바카라 웹사이트disinvestment바카라 웹사이트of바카라 웹사이트Air바카라 웹사이트India.바카라 웹사이트We are always ready to turnaround Air India," the ACEU said in its statement.
(Inputs from Arindam Mukherjee, 바카라)