Money laundering cases filed over Air India-Indian Airlines merger
Officials from India’s Enforcement Directorate have filed several criminal corruption cases relating to the controversial merger of Air India and Indian Airlines.
The agency filed two cases under the Prevention of Money Laundering Act, which alleges illegalities in the purchase and leasing of aircraft by the two state-run carriers, causing ‘huge’ losses to the government.
It suspects a large amount of funds were laundered by officials of Air India and the ministry of civil aviation who will soon receive summons, according to an agency source.
The allegations relate to the purchase of 111 aircraft from Airbus and Boeing more than a decade ago, which ’caused an alleged financial loss to the already stressed national carriers,’ the Central Bureau of Investigation said.
The CBI filed cases against the so-far unnamed officials last year.
Two other cases relate to the giving up of profitable routes and time slots of Air India flights to favour other private domestic and international carriers by officials at the civil aviation ministry.
The Enforcement Directorate says it has almost all the relevant documents needed to press ahead with charges, many of which are reportedly deemed ‘politically sensitive.’
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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