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Tata, Spicejet left in race to acquire Air India, other EoIs rejected: report
08 March 2021
Tata Group and private airline Spicejet are the only remaining bidders for acquiring Air India as all the other expressions of interest (EoI) have been rejected after evaluation, reports citing sources close to the development said.
The odds seem to favour Tata Sons, which is reported to be planning consolidation of its aviation business comprising the two joint ventures of Air Asia and Vistara.
The group is also reported to be setting up a strategy team headed by group chief financial officer Saurabh Agrawal to explore various possible solutions such as mergers and on rebranding its airline ventures, reports citing sources close to the development said.
Employees out of race to run Air India; Tatas, SpiceJet in fray
While Tata Sons’ interest to own the airline, which it had started, is known, SpiceJet’s promoter Ajay Singh is said to have submitted an Expression of Interest in his personal capacity.
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| A+A A- By Express News Service
NEW DELHI: The Air India employee consortium that had put in an Expression of Interest (EoI) for the privatisation of the national airline, has failed to make the cut to the next round.
The consortium’s bid was rejected as it failed to meet the eligibility criteria. With this fresh disqualification, now only two players are left in the race to acquire the Maharaja.
Updated Mar 08, 2021 | 21:50 IST
After the latest development, now, Tata Group and SpiceJet promoter Ajay Singh are among those left in the bid to take over the national carrier. Tata seems to the leading the race at the moment Air India sale: Employee consortium disqualified from bid, Tatas favourite
New Delhi: The Air India employee consortium failed to make it to the next round of divestment process as their Expression of Interest for the privatization of the national carrier did not made the cut. In a three-page letter to employees, Meenakshi Mallik, Commercial Director, informed the consortium that its bid was not shortlisted.
Tata Sons, Spicejet in the race for Air India, after employees’ consortium was disqualified
IANS
According to news reports,
Air India’s divestment advisors have rejected other bids, and only the Tatas and India’s largest cargo operator Spicejet remain in the fray for buying the cash-strapped flag carrier.
A group of 209 employees of Air India had also put in a bid. And while confirming the news, Air India’s Commercial Director Meenakshi Malik told Moneycontrol that the consortium hadn t made it to the next round of divestment.
Media reports further indicated that Essar,
Pawan Ruia of Dunlop and Falcon Tyres had also put in bids for Air India however, the bids have been rejected.After the consortium of Air India employees backed by NRI businessman Laxmi Prasad and his New York-based Interups Fund was disqualified only the Tata Group and India’s largest cargo operator Spicejet remain in the fray for buying the cash-strapped Air India, according to news reports.