A-I TO SELL TWO OLDER 747s TO GENERATE $21 M
Article Abstract:
As part of its renewal plan cleared by the government, Air India plans to sell two more of its 747-200 aircraft to bring down its fleet to 24 aircraft. The proceeds from the sales is expected to be around $21 million, which is expected to improve the airline's bottomline considerably. Earlier, the airline issued a global tender detailing four aircraft, of which two were offered for sale. The two highest bidders were Triton Air and Aeges, both of the UK, with a bid of $15.5 million and $5.5 million for the two aircraft. The two buyers plan to reconfigure the aircraft after the purchase for use as cargo carriers. For the other older aircraft, the bidders offered very less price. So the Air India board is still undecided on which two aircraft to be put on block. (gsh)
Comment:
Will sell two more 747-200 aircraft for around $21 mil, reducing fleet to 24 aircrafts
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IA KICK-STARTS MASSIVE REFURBISHMENT OF AIRCRAFT
Article Abstract:
Indian Airlines (IA) has undertaken a massive refurbishment programme for its eleven A-300s and twelve Boeing 737-200s, which are aged around or over 20 years. This will cost the IA about Rs2.2 crore. This follows the view that interiors of the fleet looked shabby and left a poor impression on the passengers. IA is facing a tough competition from Jet Airways, which has a large fleet comprising of new aircraft. Since IA is not in a position to buy new aircraft, it has taken up facelifting of its fleet. The renovation of each IA Airbus 300 will cost Rs15 lakh and each Boeing around Rs5 lakh. The airbus renovation is likely to be completed by June 1999. (um)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MAHARAJA TIGHTENS BELT, PLANS 40% WAGE CUT
Article Abstract:
Air-India is planning a 40 percent across-the-board reduction in wages among its 20,000 employees. The airline has been forced to take this decision as it is facing a severe financial crisis. The salary reduction may not be uniform for all categories and may be implemented on a graded scale, with a 5-10 percent cut at the lowest level a going up to 40 percent at the senior-most level. The wage slash will include allowances like productivity-linked incentives for aircraft engineers and the hourly payment and shortfall allowances for pilots. The airline says that it can save up to Rs180 crore if the wage cut is implemented for a year. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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