The budget carrier of the airline, Air India Express, will be completely sold, while the state will offer half of the ground-handling unit-Air India SATS Airport Services-separately, according to the statement.
Four other subsidiaries of the airline - AIESL (Air India Engineering Services Ltd), AIATSL (Air India Air Transport Services Ltd), HCI (Hotel Corporation of India) and AASL (Airline Allied Services Ltd) - would be hived off through demerger or any other appropriate mechanisms.
El Al, the Israeli national airline, issued a petition to the country's Supreme Court on Wednesday asking it to stop Air India's new flight route between New Delhi and Tel Aviv.
France accuses Iran of supplying weapons to Yemen's Houthi rebels
They were once strong enough to force the legitimate government to flee, but the Saudi-led Arab coalition has weakened them. Saudi Arabia is leading a mostly Arab military coalition to fight Iran-backed Houthi rebels in Yemen since March 2015.
But the proposal, which calls for bids by May 14, is already generating political opposition and the new owners face turning around an airline that has lost money for the past decade. Singapore Airlines Ltd and India's Tata Group, which run a joint venture airline named Vistara in India, said they were also open to look at the sale, but haven't elaborated yet.
The confirmed selected bidder has to continue using the "Air India" brand for AI business operations for a minimum specified number of years on terms to be detailed at a later stage.
The employees of the Air India would be made participants and their future would be better, he said.
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Tenor CEO David McIntosh, together with co-founders Erick Hachenburg and Frank Nawabi, will continue to run the company. Overall, it looks like Google wants to expand its capabilities in presenting gifs within its own apps and services.
"It certainly seems that the government will only take care of Rs 15,389 crore of the debt unlike what was expected earlier", said Mahantesh Sabarad, deputy vice president at SBI Caps Securities.
The complete information related to the process has been communicated to the prospective bidders. AI owns 50% stake in AISATS.
According to the memorandum, the employees' dues to the tune of Rs 1,298.2 crore on account of Justice Dharamadhikari Commission Report is in the nature of past arrears. The balance debt would be allocated to Air India Asset Holding Ltd, which would be fully owned by the government.
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To combat fake news, it appears that the Malaysian government has proposed a law that would make it illegal to spread fake news. The Bill seeks to provide for certain offences and measures to curb the dissemination of fake news or related matters.
The loss-making entity, which has been kept afloat by taxpayer-funded bailouts, received in-principle approval for the strategic divestment from the Cabinet Committee on Economic Affairs (CCEA) mid-2017.