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Tatas, Indian government inch closer to finalising Air India deal
Photo: Mint
April 5, 2021
Tata Sons Ltd, the front-runner to buy state-run Air India Ltd, and the government are close to sealing the terms of the purchase, having managed to narrow their differences on the three key sticking points of pension liabilities, real estate assets, and debt, two people familiar with the matter said.
Final talks between both parties are underway, and a financial bid will be submitted by the Tata group as early as this month, the people said on condition of anonymity.
The government is keen to sell Air India, which has been surviving on a government bailout. The airline has failed to turn in an annual profit since it was merged with state-run Indian Airlines in 2007.
Air India s total debt stands at Rs 38,366 crore as per FY20 government data
Updated : February 03, 2021 07:46 PM IST
The total debt stands at Rs 38,366.39 crore after transfer of debt amounting to Rs 22,064 crore to the special purpose vehicle called Air India Assets Holding Ltd in FY20 , the Civil Aviation Ministry told Rajya Sabha share
The total debt of national carrier Air India as per provisional figures of 2019-20 (Apr-Mar) stands at Rs 38,366.39 crore. The total debt stands at Rs 38,366.39 crore after transfer of debt amounting to Rs 22,064 crore to the special purpose vehicle called Air India Assets Holding Ltd in FY20 , the Civil Aviation Ministry told Rajya Sabha on February 3.
Updated Dec 23, 2020 | 10:07 IST
The Tata Group wants to bid for Air India through Vistara, and talks are underway with SIA to work around their separate non-compete clauses. Tata Sons, Singapore Airlines in talks over Air India bid options.
New Delhi: Finally, the debt-laden Air India sale is showing signs of taking off. The Tata Group, which has submitted an expression of interest (EoI) for Air India, is reportedly in serious discussion with Singapore Airlines (SIA), its joint venture partner in Vistara, as the $113 billion (about Rs 8.34 lakh crore) salt-to-software conglomerate is all set to decide options for the entity that will submit a bid for the ailing national carrier soon.
Air India s return to Tata Group will disrupt the aviation sector
Air India presently has third-largest (9.4 per cent) traffic share in the domestic markets. Tata Group-owned airlines - AirAsia India and Vistara - were fifth and sixth largest with 7.1 per cent and 6.4 per cent market share, respectively
Manu Kaushik | December 16, 2020 | Updated 17:53 IST
Air India had a total debt of Rs 60,074 crore as on March 2019, as per EoI
Major disruption is on the cards in Indian aviation as Tata Group has reportedly submitted its bid to acquire beleaguered Air India. On the last day of the bidding process, Tata Group and a consortium led by Air India s over 200 employees and Interups Inc expressed their interest in buying the national carrier. The sale process will move to the next stage, and experts believe that Tata Group has a fair chance of bagging Air India along with its subsidiary Air India Express and 50 per cent shares in ground handling unit AISATS (Air India SATS Airport Serv