Pawan Hans

Pawan Hans will launch helicopter services on six routes in Assam on February 8. These routes will be launched under the regional air connectivity scheme UDAN. Pawan Hans has been awarded 86 routes under the scheme in six states. According to an official release on Monday, the company will provide connectivity on "Dibrugarh-Jorhat-Tezpur-Guwahati-Tezpur-Jorhat-Dibrugarh" network in the first phase. "Subsequently, the services will be operationalised in the state of Arunanchal Pradesh," it said.

Bidders will have to share the details of legal proceedings against them, if any, until the completion of sale transactions

The government's decision is based on the recommendation of its transaction adviser

While the govt has secured a big win by privatising Air India, it is still far from its initial goal of privatising majority of PSUs

Three of the four dead were ONGC employees

A Pawan Hans helicopter, with two pilots and seven others including six ONGC employees onboard, fell into the Arabian Sea about 50 nautical miles from the Mumbai coast

The statement from the Cayman Islands-based fund comes a day after the government decided to put on hold the sale of Pawan Hans as it was legally examining the NCLT order against AGOF

This is the second instance where a disinvestment exercise has been put on hold after completion of the process due to allegations against the reputation of the winning bidder

After the offer is made by ONGC, the new buyer will get seven days to decide if it wants to buy the remaining 49 per cent stake held by the public sector undertaking (PSU)

The handover of loss-making helicopter service provider Pawan Hans to Star9 Mobility Pvt Ltd is likely to get over by June, an official said on Friday.

The government has decided to sell 51 per cent stake in Pawan Hans to Star9 Mobility Private Ltd for Rs 211.14 crore

This is the second successful privatisation in the civil aviation space after the Air India sale

The asset sale plan will help bridge the budget gap and meet spending targets as the economy faces fresh headwinds from the geopolitical tensions

The government will finalise the sale of state-owned helicopter service provider Pawan Hans this week. More on that story in our top headlines this hour.

Pawan Hans, a government company under the Ministry of Civil Aviation (MCA), intends to use these helicopters to support onshore and offshore operations by the Oil and Natural Gas Corporation (ONGC).

The announcement about the leasing of helicopters was made during the Wings India event in Hyderabad

The government has received an undisclosed number of financial bids for sale of its stake in ailing helicopter operator Pawan Hans, moving the divestment process to the last stage. "The financial bids for Pawan Hans disinvestment have been received by the transaction advisor. The process now moves to a concluding stage, DIPAM Secretary Tuhin Kanta Pandey tweeted. He, however, did not disclose the number of bidders. The government is selling its entire 51 per cent stake in Pawan Hans. State-owned Oil and Natural Gas Corporation (ONGC), which holds the remaining 49 per cent, has also offered its entire shareholding in the company for sale along with the government stake. Set up in 1985, Pawan Hans has a fleet of over 40 helicopters and over 900 employees, less than half of them on permanent roles. It provides helicopter services for the exploration activities of ONGC and to India's northeast. For 2019-20, the company reported a net loss of Rs 28 crore, lower than Rs 69 crore in the

Till July 2020, the company had 686 employees - 363 regular and 323 contractual

FM said in her budget speech that the disinvestment of Air India and Pawan Hans would be completed in 2021-22

Experts say finding a buyer for the company will be a challenge even as it holds value in the oil and gas sector