Jet Airways, Air France-KLM e Delta interessate a presentare un'offerta per Air India

[FlyKing]

La compagnia a partecipazione statale Air India è in cerca da tempo di un partner per una "privatizzazione" che, nonostante qualche aggiunta all'offerta (apertura del 49% del capitale), stenta a manifestarsi. Chissà quanto pesi sulla scelta i 8.3 miliardi di debiti accumulati dalla compagnia.
I transalpini, mentre si allungano i tempi per la luce verde all'acquisizione del 31% di Virgin Atlantic, guardano ad est e puntano ad AI, ventilando un'offerta congiunta con Delta e il partner Jet Airways, ancora nell'orbita Etihad, che recentemente ha smentito ogni interesse a cederne le quote.

Jet Airways, Air France-KLM eye Air India - report

Jet Airways (9W, Mumbai Int'l), its European partner Air France-KLM and US partner Delta Air Lines (DL, Atlanta Hartsfield Jackson) are considering putting in a joint bid for Air India (AI, Mumbai Int'l) sources familiar with developments have told India's PTI news agency. Neither party responded to the report which stated that a total of three entities have so far shown an interest in the sale.

The tentative bid comes as Narendra Modi's government prepares to issue a formal call for Expressions of Interest (EOI) in Air India in the coming weeks. The sale, which is expected to be wrapped up by year-end, will see Air India Ltd.'s subsidiaries being spun off into four separate units ahead of the sale of a 51% stake in each of them.

As per previous reports, Air India and Air India Express will be combined into one company while domestic carrier Alliance Air (India) will occupy another. Groundhandling firm Air India Air Transport Service Ltd (AIATSL) and MRO unit, Air India Engineering Services Ltd AIESL), will occupy the other two companies.

ch-aviation

 

[13900]

Masochisti!

 

[AZ209]

Strano non ci sia Cerberus anche qui.
E i sindacati? Perche' non c'e' l'offerta dei sindacati?

 

[AZ209]

Pare che IndiGo si sia tirata indietro date le condizioni attuali imposte dal governo Indiano.
Déjà vu con lidi piu' vicini a noi?

Air India privatisation: Will IndiGo exit force govt to ease bidding terms?

Experts say the government might be pressured to tweak some of the key areas in the preliminary information memorandum that, according to many carriers, make it difficult to bid for Air India

Following IndiGo’s decision of not bidding for state-run Air India, the government might be pressured to tweak some of the key areas in the preliminary information memorandum that, according to many carriers, make it difficult to bid for the national carrier.
There is no doubt, say experts, that IndiGo was the only domestic airline with the cash reserves (over Rs 120 billion) and management wherewithal to turn around Air India. It was also the only carrier that met the net worth criterion of Rs 50 billion on its own. Now, IndiGo’s withdrawal from the race is surely a major setback for the government, and it also raises the red flag for other potential bidders.

The other two aviation companies that have reportedly shown interest in Air India are Tata-SIA and Jet Airways with KLM, though the latter does not have a great financial health. The names of Air Asia, SpiceGet, Go Air and Qatar Airlines, and even the Adanis, have been doing the rounds, but many of them have denied or not commented on the issue.
According to an aviation analyst, “the IndiGo decision is good in one way, as it will make the government rethink – you cannot push so many clauses down a buyer; they will rethink (their interest in bidding).” Global consultants to airlines say that most carriers are looking for more clarifications on some key issues before they would take a decision.
Some airlines say that one key area of concern is the insistence to run Air India as a separate entity. They point out that a clause says the winner will have to carry on the business of Air India as an ongoing concern, and on an arm’s length basis from its other business, till such time as the government owns any shareholding. “This is ridiculous; for any turnaround, Air India will need to be merged with the existing operation of the new owner, so that one entity can get synergy and reduce costs, and also improve efficiencies. What is the logic of running two airlines separately and not getting advantage of the synergies. Imagine, for example, Tata-SIA and Air India being run separately by the same shareholders,” says a senior advisor to a leading airline company.
Another key concern is the lack of clarity on employees’ future. Airlines say the decision on who would be retained should be with the buyer, and not more than 50 per cent of the present workforce would be required to run it. “The government is talking of the employee stock ownership plan (ESOP), and that you cannot retrench staff for a year. But in do so, the government seems to be washing its hands of a crucial issue without which no one will risk to bid,” says an airline assessing whether to take the papers for Air India.
There also are serious concerns on the speed at which the government wants to complete the sale process. Airline experts argue that even smaller and private airline acquisitions globally have taken at least 12-18 months. But the deadline set by the government is not enough for a thorough due-diligence and final decision-making on the bid. The government has put in a stiff deadline of October-end to complete the sale.
Many carriers say that they are dissuaded by the insistence that they float an IPO in three years. That would not be possible, they say. “You would like to go for an IPO when you are profitable. We don’t think that it can be turned around in just three years. The decision should have been left to the buyer, not forced on them,” says a senior executive of a domestic airline.
Many analysts also say that IndiGo’s decision announce its withdrawal from race publicly might just be a tactic to pressure the government to sell Air India in parts – domestic and international separately. IndiGo is more interested in the international business. However, others say if that happens, there is hardly any way that Air India will be able to sell its domestic business, which does not look very attractive. In international business, it has some valuable slots that can give the buyer a big kickstart in the global market.
Of course, there is a shortage of even domestic slots in cities like Delhi, Mumbai, Bangalore, Goa and Chennai. But domestic carriers say that the shortage is only temporary – for the next 2-4 years – as new airports and capacities are already being built in most of the airports. So, to buy domestic business only for the slots, based on a temporary shortage, is not a viable strategy. Before any acquisition, airlines look at the target’s value for the next 20 years.

http://www.business-standard.com/ar...ovt-to-ease-bidding-terms-118040600485_1.html

 

[AZ209]

AI non sta pagando le rate alle banche ed ai lessors.


Air India gets default notices from banks, aircraft lessors - Business Standard

July 30 (Reuters) - Three banks and two aircraft leasing firms have served default notices on Air India over the last few weeks, the Business Standard newspaper reported on Monday, raising concerns about the government-owned carrier’s state of finances and credit-worthiness.
San Francisco, United States-based Wells Fargo Trust Services and UAE's state-owned Dubai Aerospace Enterprise (DAE) have sent letters of demand for pending rental payments, the newspaper said, citing sources. bit.ly/2AlEDot

DAE declined to comment on the report. Air India was not immediately available to comment, while Wells Fargo could not be reached outside usual U.S. business hours.
Three lenders from a 22-bank consortium have also written to Air India raising concerns that the company is turning into a non-performing asset, Business Standard said.
Last month, India shelved a plan to sell a 76 percent stake in Air India due to lack of interest from bidders, in the latest setback in its ambitious efforts to rescue the ailing airline.

The government will continue to support the loss-making airline’s financial requirements while it works on alternatives, Junior Civil Aviation Minister Jayant Sinha had said, without giving a specific timeline for a new plan.
The government has remained non-committal on infusing cash into the airline after the failed privatisation process, according to the report.
“”Wait till the end of August. The government will give us money and then we will pay you. Please do not take any legal action has been the national carrier’’s response,” the newspaper quoted an executive working for one of the lenders as saying.

 

[Dancrane]

Wait till the end of August. The government will give us money and then we will pay you. Please do not take any legal action.

Meraviglioso!