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Mumbai, Mar 18 () The government's plan to privatise flag carrier Air India will be further delayed and it will have to infuse up to Rs 3,000 crore to ensure continuity of operations till the sale process gets over, the Centre for Pacific Aviation (CAPA) said on Wednesday. The government has already extended the date of submission for expression of interest to April 30 from March 17 due to the ongoing coronavirus outbreak. In January, the government restarted the divestment process of the carrier and invited bids for selling its 100 per cent stake in both Air India and its low-cost international budget arm Air India Express besides entire 50 per cent holding in ground-handling joint venture AI-SATS. "The privatisation process for Air India will be further delayed. The EoI submission date has already been pushed back by six weeks," CAPA said in its latest report -- Impact of COVID-19 on Indian Aviation -- released on Wednesday. Due to this delay, the government will need to commit "significant" and "immediate" interim funding of USD300-400 million for the national carrier, to ensure that it is able to operate at least in its current condition until such time as the sale transaction is concluded. Air India pilot unions - Indian Pilots Guild and Indian Commercial Pilots Association- on Monday wrote to Minister of State for Civil Aviation Hardeep Singh Puri, seeking immediate financial assistance to the airline in view of the situation arising out of the coronvirus outbreak. CAPA, in its report also stated that the government must also have a fall-back plan to regroup and continue to operate the airline for the medium-term if the privatisation process is unable to proceed. After its unsuccessful bid to sell Air India in 2018, the government this time decided to offload its entire stake. In 2018, the government had offered to sell its 76 per cent stake in the airline. IAS MRMR

Govt needs to infuse Rs 3K cr in Air India as sale to get delayed: CAPA

Mumbai, Apr 9 () Air India chief Rajiv Bansal on Thursday said that the "crippling effect" of the novel coronavirus has further plummeted the airline's finances to a "precarious" position but despite that, it has managed to keep afloat.Bansal, in a message on Thursday, also assured the employees of providing all the "essential armoury" in carrying out evacuation and chartered flights amid the pandemic."Air India has been passing through a critical financial condition much before the Covid19 onslaught. The crippling effect of the pandemic, especially in the aviation sector, has further plummeted our finances to a precarious position. In spite of this, your airline has left no stone unturned to continue to remain afloat," Bansal said in a message to Air India employees on Thursday.Reminding the employees that the organisation is always with them during these trying times, he said, their safety and health are as important to the company as of its passengers."We are leaving no stone unturned to ensure you get all the essential armoury to fight this war. Our dedicated medical services team members are available round the clock for any consultation, advice or emergency. We are doing everything possible to minimise risk factors," Bansal said.Besides taking all the precautionary measures and providing PPE to ensure your safety, Air India was amongst the very few airlines in the world, who are providing hazmat suits and other protective equipment for its crew to equip them to face any COVID-related safety concern onboard, he said.It was the first carrier to evacuate stranded Indian nationals from Coronvirus-hit Wuhan in China in January.It is due to these precautionary measures that so far, only one of the airline's crew members amongst so many, who have been flying our charter flights all over the world, has tested COVID positive, he added."I am relieved to inform you that she has also been discharged after full recovery under the watchful eyes of our medical department," Bansal said.In recent weeks, Air India has operated flights to Israel, Germany and London, using its wide-body Boeing 777s and B787s. These services were mainly to carry foreign nationals stranded in the country due to the lockdown, which began on March 25.Stating that all of us in Air India, no doubt, are in this war together, Bansal said, "Adversity brings the best out of us and is a litmus test of our courage and strength of character. This is also the time to show how much we care for one another." IAS MRMR

Air India finances plummet due to coronavirus impact, says chief

(Eds: Releasing overnight story) Mumbai, Apr 9 () Air India chief Rajiv Bansal on Thursday said that the "crippling effect" of coronavirus has further plummeted the airline's finances to a "precarious" position but despite that, it has managed to keep afloat. Bansal, in a message on Thursday, also assured the employees of providing all the "essential armoury" in carrying out evacuation and chartered flights amid the pandemic. "Air India has been passing through a critical financial condition much before the Covid19 onslaught. The crippling effect of the pandemic, especially in the aviation sector, has further plummeted our finances to a precarious position. In spite of this, your airline has left no stone unturned to continue to remain afloat," Bansal said in a message to Air India employees on Thursday. Reminding the employees that the organisation is always with them during these trying times, he said, their safety and health are as important to the company as of its passengers. "We are leaving no stone unturned to ensure you get all the essential armoury to fight this war. Our dedicated medical services team members are available round the clock for any consultation, advice or emergency. We are doing everything possible to minimise risk factors," Bansal said. Besides taking all the precautionary measures and providing PPE to ensure your safety, Air India was amongst the very few airlines in the world, who are providing hazmat suits and other protective equipment for its crew to equip them to face any COVID-related safety concern onboard, he said. It was the first carrier to evacuate stranded Indian nationals from Coronvirus-hit Wuhan in China in January. It is due to these precautionary measures that so far, only one of the airline's crew members amongst so many, who have been flying our charter flights all over the world, has tested COVID positive, he added. "I am relieved to inform you that she has also been discharged after full recovery under the watchful eyes of our medical department," Bansal said. In recent weeks, Air India has operated flights to Israel, Germany and London, using its wide-body Boeing 777s and B787s. These services were mainly to carry foreign nationals stranded in the country due to the lockdown, which began on March 25. Stating that all of us in Air India, no doubt, are in this war together, Bansal said, "Adversity brings the best out of us and is a litmus test of our courage and strength of character. This is also the time to show how much we care for one another." IAS MR HRS

Coronavirus deteriorates Air India finances but airline manages to keep afloat, says chief

Mumbai, Jun 15 () The government will have to chart out a fresh glide path to bring down the fiscal deficit once the normalcy is restored, an article published in the monthly bulletin of the Reserve Bank has suggested. The union government's fiscal situation is expected to worsen in view of the low tax realisation, higher expenditure on healthcare and overall disruption in economic activities following the coronavirus outbreak. The country's fiscal deficit soared to a seven-year high of 4.6 per cent of the Gross Domestic Product (GDP) in 2019-20, as per the latest data provided by the Controller General of Accounts (CGA). The government, while unveiling the budget proposals for 2020-21 in February, had proposed to bring down the fiscal deficit to 3.5 per cent of the GDP. The budget was presented about two months before the country affected lockdown on March 25 to deal with the COVID-19 pandemic. "The deterioration in provisional accounts for 2019-20 can be attributed to tax revenue shortfall, both cyclical and structural," said the RBI article. Given that the budget estimates of 2020-21 were projected on the basis of 2019-20 RE, a shortfall in tax revenue collections in 2019-20 (Provisional Accounts) vis-à-vis 2019-20 (Revised Estimates) may distort the fiscal arithmetic for 2020-21. "This could be further impacted adversely by COVID-19 related macroeconomic effects in 2020-21, especially Q1. Against this backdrop, fiscal effort in 2020-21 has to be calibrated and judicious, while simultaneously charting out a glide path back to fiscal rectitude once the rough waters calm," said the RBI article. The Fiscal Responsibility and Budget Management (FRBM) Rules, 2004, specifies annual targets and mandates the central government to reduce the fiscal deficit by an amount equivalent to 0.1 per cent or more of GDP per year. The bulletin said the article has been prepared by Sangita Misra, Samir Ranjan Behera, Kaushiki Singh and Saksham Sood of the Department of Economic and Policy Research, RBI. The bulletin, however, said that "views expressed are of the authors and do not pertain to the institution they belong to". While raising the fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20, the government had utilised 'escape clause' under the FRBM Act which provides it leeway for relaxation of fiscal deficit roadmap during time of stress. India had imposed a lockdown on March 25 with an aim to restrict the spread of coronvirus. Economic activities in the country have been severely impacted due to the lockdown. With Unlocking starting this month, there have been pickup in economic activities. During 2018-19, the fiscal deficit was 3.4 per cent the GDP. The government had said it would have restricted it to 3.3 per cent but for the income support to farmers. The government had provided Rs 20,000 crore towards the income support for 2018-19 while presenting the Interim Budget for 2019-20 (February 1, 2019). NKD CS MKJ

Govt needs to chart out fresh glide path to bring down fiscal deficit: RBI bulletin

<ul><li>BCCI has postponed the <keyword id="7463791" type="UNKNOWN" weightage="20" keywordseo="ipl-2020">IPL 2020</keyword> to April 15 due to the coronavirus outbreak.</li><li>Franchise owners are expected to meet BCCI officials on Saturday.</li></ul>The Indian Premier League 2020, one of the biggest sporting events in India, is April 15, due to the coronavirus outbreak. The IPL 2020 was slated to begin on March 29 however visa restrictions by the government which will keep foreign players away, forcing them to make this decision. "The BCCI is concerned and sensitive about all its stakeholders, and public health in general, and it is taking all necessary steps to ensure that, all people related to IPL including fans have a safe cricketing experience," the release said. The IPL 2020 is not the only major sporting event affected by the coronavirus. The UEFA Champions League, the NBA and the La Liga have also been suspended due the deadly pandemic. Overseas players may be able to join As per reports, franchise owners are against playing without their overseas players. This delay will allow overseas players to join the IPL 2020 as the visa restrictions will end on April 15. However, the government is expected to reassess the situation in the coming weeks and may relax or extend the visa restrictions based on the gravity of the situation. Franchise owners want to play games behind closed doors Even when the IPL 2020 begins on April 15, its matches may still have to be played only for TV without live audience. The Maharashtra government was the first to <a href="https://economictimes.indiatimes.com/news/sports/covid-19-maharashtra-to-allow-ipl-matches-only-in-empty-stadiums/articleshow/74589767.cms">announce</a> it will allow IPL only if it is played behind closed doors, to discourage public gatherings. The Delhi government quickly followed suit. The franchise owners will reportedly make this same request to ask BCCI officials on Saturday in order to keep up with the schedule of games and cities. A franchise official in a statement to IANS said that playing games in closed doors is better than postponement as it will allow foreign players to join the teams. “If we get to the business end without our foreign recruits, then it again becomes a domestic tournament just like say Mushtaq Ali or Vijay Hazare Trophy. To keep the charisma alive, you need foreign players,” he added. See also: <a href="https://www.businessinsider.in/sports/news/mumbai-indians-chennai-super-kings-and-royal-challengers-will-be-worst-hit-if-ipl-is-played-behind-closed-doors/articleshow/74595197.cms">Mumbai Indians, Chennai Super Kings and Royal Challengers Bangalore will be worst hit if IPL is played behind closed doors</a> <a href="https://www.businessinsider.in/sports/news/ipl-has-to-be-played-behind-closed-doors-amid-coronavirus-outbreak-says-govt/articleshow/74591684.cms">IPL has to be played behind closed doors amid coronavirus outbreak, says Govt</a>

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Govt needs to infuse Rs 3K cr in Air India as sale to get delayed: CAPA

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Air India finances plummet due to coronavirus impact, says chief

PTI

Coronavirus deteriorates Air India finances but airline manages to keep afloat, says chief

PTI

Govt needs to chart out fresh glide path to bring down fiscal deficit: RBI bulletin

PTI

IPL 2020 postponed to April 15 as the game will have no ‘charisma’ without foreign players

Rounak Jain

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