Will Air India be sold?
The long-awaited sale of India’s national carrier Air India is now done. The Tata group has snapped up the loss-making airline four years after the government announced its intention to sell it. Air India is now back to the Tata stable, 68 years after the government nationalised it.
Is Air India going to be Privatised?
Air India privatisation reflects govt resolve to bite reform bullet: CII. The automobile-to-aviation conglomerate was declared the winning bidder for the national carrier at the end of a process that took close to four years and two attempts.
Why Air India is being sold?
Why was Air India sold? In 2017, the Modi government announced its plans to sell the national carrier after it suffered recurring losses and particularly following a gigantic cash crunch. The airline hasn’t made a profit since its merger with Indian Airlines in 2007.
Who will pay Air India debt?
As on August 31, Air India had a total debt of ₹61,562 crore. About 75 per cent of this debt or ₹46,262 crore will be transferred to a special purpose vehicle AIAHL before handing over the loss-making airline to the Tata Group.
Has TATA taken over Air India?
The government announced on Friday that the Tata Group won the bid to purchase national carrier Air India, the airline founded by JRD Tata in 1932. … Back then, the government had paid Rs 2.8 crore to Tata Group and took over a 100 per cent stake in the venture.
Which airline is owned by Tata?
Tata has Vistara, a joint venture with Singapore Airlines Ltd. for full-service domestic and international flights. They also have a majority stake in a no-frills carrier with Malaysian entrepreneur Tony Fernandes’s Air Asia Group.
Which company of Tata will buy Air India?
Tata group has emerged as the successful bidder of the divestment process of the national carrier Air India. The Tata group’s holding company, Tata Sons through its wholly-owned subsidiary Talace Pvt Ltd submitted a winning bid of Rs 18,000 Crore as the Enterprise Value of Air India.