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Tata Sons has emerged as a front runner to take over 100 per cent stake in the stressed national carrier Air India, sources involved in the sale process said on Monday after the expression of interest (EoI) deadline ended. There were other suitors as well including a consortium of Air India employees and US-based fund Interups. Along with 100 per cent stake in the airline, the government is also selling its low-cost subsidiary Air Indian Express. “Multiple expressions of interest have been received for strategic disinvestment of Air India. The Transaction will now move to the second stag...

Mumbai: A group of 219 Air India employees submitted a bid to purchase 51 per cent of the loss-making state-owned carrier. The remaining will be held by a financial partner, according to Meenakshi Malik, who is Air India's commercial director and has been with the airline for about 30 years. Each employee will have to contribute at least 100,000 rupees ($1,360) toward the bid. Air India has been on sale since 2017 when Indian Prime Minister Narendra Modi's cabinet signed off on a plan to sell all or part of the debt-ridden carrier. The government sweetened the deal earlier this year when it e...

Highlights The bidding process for the debt-ridden airline has been postponed four times earlier and of October 30 deadline is changed now Air India has been unprofitable since its 2007 merger with state-owned domestic operator Indian Airlines Ltd Air India disinvestment will be a key component of this year's sell target of Rs 2.1 lakh crore New Delhi: A group of 219 Air India (AI) employees has submitted the Expression of Intent (EOI) to purchase a stake in the loss-making national airline, according to Meenakshi Malik, who is Air India’s Commercial Director.  Meenakshi Malik told Zee Med...

Air India sale: Tatas, Interups among 'multiple' bidders, says Govt The government is selling its entire 100 per cent stake in Air India that has been in losses ever since its 2007 merger with domestic operator Indian Airlines PTI | December 14, 2020 | Updated 23:04 IST Air India started as a mail carrier in 1932 Salt-to-software conglomerate Tata Group and US-based fund Interups Inc were among "multiple" entities that on Monday put in preliminary bids for buying loss-making carrier Air India. A group of 219 Air India employees submitted an expression of interest (EoI) for the carrier in pa...

Explained: Formal bids for Air India close, who will the Maharaja go to? This is the government’s second attempt at disinvesting its stake in Air India. The earlier attempt in 2018 ended badly, after not a single bid was received for the debt-laden airline. Written by Pranav Mukul , Edited by Explained Desk | New Delhi | Updated: December 21, 2020 3:06:35 pm This is the government’s second attempt at disinvesting its stake in Air India. (Source: Air India/Twitter) The Centre has said that it has received “multiple expressions of i...