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Tata Group likely to bid for Air India after 1953 exit
India
Updated: Monday, December 14, 2020, 17:29 [IST]
New Delhi, Dec 14: Government-owned Air India is once again on the block, Tata Group is believed to have submitted an expression of interest for the beleaguered national carrier Air India.
Representational Image
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.
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.
Employee group, Interups Inc to bid for Air India
If the planned acquisition of Air India is successful, Interups Inc. along with Air India Ltd would sponsor an aviation infrastructure investment trust to monetize certain assets, according to Laxmi Prasad, chairman of Interups Inc.
(ANI)
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New Delhi: A section of Air India Ltd s employees along with New York-based company Interups Inc. will be placing an expression of interest (EoI) for the divestment-bound national carrier, ahead of the deadline for the bid on Monday.
The bid, jointly made by Interups Inc. and Air India s employee group, proposes 51% stake to Air India employee association, which includes about 219 employees, including board members, as part of the consortium, and 49% stake to Interups Inc, Laxmi Prasad, chairman of Interups Inc., told