Alliance Air: Amid monetary headwinds confronted by Alliance Air, the federal government has stepped ahead to make an equity infusion of Rs 300 crore. The regional provider Alliance Air, the earlier a part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose automobile fashioned by the central authorities.
Alliance Air operates 130 flight every day
The disinvestment-bound Alliance Air operates round 130 flights every day. In current months, there have been cases of strikes by pilots to protest in opposition to the non-restoration of salaries to the pre-Covid stage and non-payment of allowance, amongst different points. The finance ministry has permitted an equity infusion of Rs 300 crore into Alliance Air, the senior civil aviation ministry official informed PTI.
Specific particulars couldn’t be instantly ascertained.
Company’s authorised capital is Rs 2,000 crore
Flights below ‘Alliance Air’ model are operated by Airline Allied Services, which modified its title to Alliance Air Aviation Ltd. The firm’s authorised capital is Rs 2,000 crore and the paid-up capital is Rs 402.25 crore, as per the newest information accessible with the company affairs ministry.
Alliance Air, which noticed its internet loss widen to Rs 447.76 crore in fiscal 2021-22, has been grappling with monetary woes. The provider’s money loss widened to Rs 224.18 crore in the monetary 12 months ended March 2022. Four firms that have been earlier a part of Air India at the moment are below AIAHL. These are Air India Air Transport Services Ltd, Air India Engineering Services Ltd, Airline Allied Services Ltd and Hotel Corporation of India Ltd.
All 4 firms are proposed to be divested by the federal government in due course. The Expression of Interest (EoI) for Air India Air Transport Services and Air India Engineering Services are possible to be floated quickly. Loss-making Air India together with Air India Express was taken over by Tata Group in January 2022.
