Tata Group interested in Air India
Agencies
December 14, 2020
New Delhi, Dec 14: Tata Group is seeking to board Air India again after nearly seven decades, with the salt-to-software conglomerate set to participate in the bidding process for the national carrier, sources said on Monday.
The last date for submission of Expression of Interest (EoI) for Air India is Monday.
At present, the Tata group is operating two airlines the full service carrier Visatara in association with Singapore and AirAsia India, for which it has collaborated with Malaysian airliners group AirAsia.
The Narendra Modi government has already taken one attempt to privatise Air India in the last three years, which came a cropper. However, the government re-initiated the disinvestment process of Air India early this year.
Highlights
Airline s total debt of Rs 60,074 crore as of March 31, 2019.
Buyer would be required to absorb Rs 23,286.5 crore.
New Delhi: US based funds agency Interups Inc is set to file an Expression of Interest for Air India on Monday. Interups Inc Chairman Lakshmi Prasad has made official confirmation regarding the same.
Prasad said that the bid will be surprising for everyone. As per Zee Media sources Tata Group will also file an Expression of Interest for Air India.Tata group will use Air Asia as a vehicle where Tata Sons has a significant majority stake (51 percent). Interestingly, Hinduja group is also reported to be one of the frontrunners for Air India bid.
Consequent to above change in Clause 10.17 of the Preliminary Information Memorandum (PIM), date of intimation to the qualified interested bidders (QIB) should be read as 5th January, 2021, , Air India Divestment
Travel News - Govt extends intimation date for qualified bidders for Air India to Jan 5 travelbizmonitor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from travelbizmonitor.com Daily Mail and Mail on Sunday newspapers.
MIAMI – As per its sale of flag carrier Air India (AI), the government announced it would not extend the deadline for submitting interest in the purchase. Nonetheless, it has allowed interested parties to submit physical bids until December 14.
Although the announcement represents an obstacle for a future sale, the action does offer one week more for any interested bidders. The Department of Investment and Public Asset Management (DIPAM) stated that the qualified bidders for AI would probably receive the respective notifications by January 5, 2021.
The government made the sale deal adjustment given the uncertainty felt in the aviation environment. The Indian government has been trying to sell AI since 2018.