Tata Group On Way To Hold Air India
- 15-Dec-2020
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Govt. decision on disinvest stake in Air India has got positive response. The Centre said Monday, has received “multiple expressions of interest” for the debt-laden airline. These include bids from the Tata Group and a consortium comprising several of the airline’s employees and a US-based investment firm.
The deadline for submission of formal bids closed at 5 pm Monday and the Government is expected to notify the qualified bidders on January 5. This is the Government’s second attempt at disinvesting its stake in the airline after the previous move in 2018 ended up without a bid.
Earlier, the Government had put up 76 per cent stake in Air India for sale along with a portion of debt. But this time, it plans to divest 100 per cent of its equity share capital in Air India Ltd, which includes Air India’s shareholding interest of 100 per cent in Air India Express and 50 per cent in Air India SATS Airport Services.
Sources says, the Tata Group has submitted an official expression of interest for the airline although the bid has not been placed through its affiliate airlines, Vistara or AirAsia India.
