Air India Current Affairs - 2019
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Air India has allowed pilgrims returning from Saudi Arabia after Haj to carry holy water from Zamzam within permissible baggage allowance.
Baggage allowance on all Commercial flights operating out of Saudia Arabia is uniformly 40 kg for everyone. Special 5kg allowance is given to those passengers who may carry Zam Zam (holy water). This special allowance is exclusively for Zam Zam only i.e. it cannot be converted into baggage allowance.
The well of Zamzam is located in Masjid al-Haram, Mecca (holiest place in Islam) in Kingdom Saudi Arabia and many Haj pilgrims bring the holy water from the well for family and friends.
Every year Millions of pilgrims visit well while performing Hajj or Umrah pilgrimages in order to drink its water.
Earlier on first week of July, sales team of Air India’s Jeddah office informed all travel agents stating that till 15 September due to change of aircraft and limitation of seats, Zamzam cans will not be allowed on some flights. Now Air India has clarified that passengers are allowed to carry Zamzam cans within their permissible baggage allowance.
The Union Cabinet headed by Prime Minister Narendra Modi has given ex-post facto approval for the creation of the Special Purpose Vehicle (SPV) and associated activities for the disinvestment of Air India and its subsidiaries/JV.
Air India Assets Holding Ltd.
- Debt of Air India Ltd. amounting to Rs. 29,464 crore would be transferred to Air India Assets Holding Ltd.
- The subsidiaries which are not part of Air India strategic disinvestment viz. Air India Air Transport Services Ltd. (AIATSL), Airline Allied Services Ltd. (AASL), Air India Engineering Services Ltd. (AIESL) and Hotel Corporation of India Ltd. (HCI) would be shifted to the special purpose vehicle.
- Non-core assets, painting and artefacts and other non-operational assets of Air India Ltd would also be transferred to the SPV.
- The board of directors of the SPV includes Director Finance as well as the chairman and managing director of Air India along with joint secretaries of Corporate Affairs, Investment and Public Asset Management, Expenditure, Economic Affairs.
The disinvestment proceeds from the Air India would be utilized to set off the working capital loan liability of Air India which are not backed by any asset and warehoused in the same SPV.