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Government to plan selling 51 per cent stake in Air India…!

According to Bloomerg Market , India is considering selling a majority stake in Air India to a strategic partner after a $3.6 billion bailout failed to turn around the loss making national carrier, people with knowledge of the matter said.

The proposal includes reviving Air India within five years of selling a 51 percent stake, the people said, asking not to be identified as the information isn’t public. Talks are at an initial stage and presentations have been made to the finance ministry and the prime minister’s office, they added.

The government isn’t planning to sell 51 percent stake in the carrier, Civil Aviation Secretary R.N. Choubey said in New Delhi. D.S. Malik, a spokesman at the Ministry of Finance declined to comment. Neither did Dhananjay Kumar, Air India’s spokesman.

Prime Minister Narendra Modi’s administration will have to tackle the airline’s about $7 billion of debt to make Air India attractive to investors, according to Mark Martin, founder of Dubai-based Martin Consulting LLC. In comparison, Deutsche Lufthansa AG has less debt while its revenue is about 11 times that of the Indian carrier. Air India has been unprofitable for a decade with taxpayers bailing it out in the past six years.

“It’s a welcome step but premature,” said Martin. “The government should first set its house in order by amortizing and restructuring the debt before it tries to find someone who will buy 51 percent.”

India’s finance ministry wants the plan to be discussed in detail to avoid a situation where there are no buyers after the offer is announced, the people said.

The carrier’s share in the local market has shrunk to 14 percent from 35 percent a decade back, placing it third in the national ranking. The company made an operating profit of about 1 billion rupees ($15 million) in the year through March 2016, aided by a drop in oil prices. It still posted a net loss of 38.4 billion rupees, according to the government.

Australia

The QANTAS is selling 1,000 fully Stocked carts taken from Boeing 747

The QANTAS is selling 1,000 fully Stocked carts taken from Boeing 747: Qantas is opening its memorabilia storage shed to the Australian public, offering 1000 Qantas 747 galley carts stocked with a range of items from champagne and Australian red and white wine to Tim Tams, PJs and an exclusive-to-Qantas First Class Sheridan throw.

The bar carts were removed from the airline’s recently retired and much-loved 747 aircraft before they were flown to the Californian desert.

Qantas operated various incarnations of the 747 “Queen of the Skies” for almost 50 years before retiring the jumbo jet six months early as part of its response to the COVID-19 crisis. The farewell of the last Qantas 747 in July inspired an outpouring of affection and nostalgia from the Australian public.

Qantas Executive Manager of Product and Service, Phil Capps, said the airline wanted to offer up a unique opportunity for enthusiasts to own a physical piece of the 747 legacy, particularly at a time when travel was out of reach for many.

“These pre-loved carts served Qantas and our customers well during their world travels from London and Los Angeles to Singapore and Santiago, with each one averaging around 2,000 flights. While we no longer have use for them, they still have life in them, especially for those with an appreciation for aviation collectables and an eye for design.

“There has been huge demand for Qantas 747 memorabilia and Frequent Flyers have expressed keen interest to convert the bespoke inflight trolley into everything from lamp stands to storage units. The fact they come fully stocked with some of Qantas’ most popular on-board service items will hopefully inspire some high-flying fun at home.”

Mr Capps added, “We know people have been ordering Qantas Wine to enjoy at home and our Qantas ‘iso care kits’ featuring the PJs sold out within hours. The bar carts offer the trifecta of wine, PJs and a piece of aviation history.”

The 747 half bar cart features:

A Qantas 747 half bar cart
40 mini bottles white wine and 40 mini bottles of red wine & 1 bottle of Champagne from the Business class cellar
2 Qantas Business Class amenity kit featuring ASPAR Travel Essentials
1 Sheridan throw made exclusively for Qantas First Class made of 100% combed cotton
2 Qantas Business Class sleeper suits M/L & L/XL (suitable for most shapes and sizes)

Half bar carts will cost $974.70 including delivery (or 169,000 Qantas Points). A small number of full size carts will be available with double the items for $1474.70 including delivery (or 256,000 Qantas Points). Delivery to metro locations in Sydney, Brisbane, Melbourne, Adelaide and Perth only.

The Qantas 747 carts will be on sale today via https://wine.qantas.com/

Watch our youtube video on Qantas selling its stock.