Wednesday, August 08, 2018

Having Beaten El Al in Battle over Tel Aviv–Delhi Line, Air India Faces Bankruptcy

In late July, El Al Airlines withdrew its lawsuit that demanded restricting Air India’s new flights connecting New Delhi and Tel Aviv through Saudi airspace until the Israeli planes receive the same privilege from the Saudis. El Al said at the time that it decided to heed the urgings of the justices to drop the suit.

On Wednesday, with or without a connection to its grab of the lucrative Tel Aviv line, the Economic Times reported that India’s Civil Aviation and Finance Ministries are debating helping the ailing Air India to the tune of 11,000 crore rupees (that’s 1,100,000 lakhs, or $1.6 billion) in a bailout package.

A source in the Indian government told ET that “cleaning up the balance sheet of Air India airline will make it attractive for investors as and when the government decides to once again attempt strategic stake sale of the airline.”
08/08/18 David Israel/JewishPress.com