With trouble brewing between some major airlines and travel portals over issues concerning ticket pricing and revenue sharing, Air India has called all major online agencies to discuss how to overcome such problems, airline sources said on Thursday. It would be holding separate meetings with representatives of these portals over the next few days to sort out a variety of problems relating to sharing of revenue and pricing of tickets, they said.
?We would want fairness, transparency and a non- discriminatory approach in our dealings with the portals. We should ensure that business is done with ethics and the passengers are not misled,? the sources said.
Meanwhile, Air India has invited bids from banks and financial institutions to raise up to $1 billion via external commercial borrowings, according to an offer letter seen by Reuters. Funds will be used for working capital, as per the document, with interested arrangers asked to submit bids by May 4. The firm is looking to raise one-year funds at either fixed- or floating rates, according to the document. Air India is due to receive an equity infusion of R6,750 crore in the current fiscal year.
