Tata Group Bids For Air India, 67 Years After The Exit In 1953
It is believed that Tata Group submitted a bid for Air India.
An expression of interest is also expected to be given by a group of 200 Air India staff, the deadline for which is Monday 5 pm.
Tata Group is seeking, according to news reports, to persuade its partner, Singapore Airlines, with whom it operates a joint venture—Vistara—to waive the non-compete clause in the Air India tender agreement and to partner the conglomerate in its tender.
When Bidding Will Close
According to the latest government correction, qualified institutional bidders, if any, will be invited to start bidding for the airline as of 28 December.
How much equity?
This time around the government plans to divest 100% of its equity stake in Air India Limited, which includes Air India’s 100% stake in AI Express Ltd and 50 percent in Air India SATS Airport Services Private Ltd.