Air India employees bid for 51% stake in struggling flag carrier livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
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.
Group of 219 Air India employees bid for a 51% stake in the debt-laden national carrier
Photo: Daniel Eledut Premium
A group of 219 Air India Ltd. employees submitted a bid to purchase 51% of the loss-making state-owned carrier.
Continue reading this story with a subscription to DealStreetAsia.
Contact us for corporate subscriptions at subs@dealstreetasia.com.
Sign up for our newsletter - The Daily Brief Opt out of receiving The Daily Brief in your inbox everyday
REGISTER stories left placeholder You have one free story left this month. You have stories left placeholder free stories left this month. This is your last free story of the month.
Updated Dec 14, 2020 | 18:49 IST
DIPAM secretary Tuhin Kanta Pandey says multiple EoIs have been received for strategic disinvestment of the national carrier, adding that the transaction will now move to the second stage. Multiple EoIs received for strategic disinvestment of Air India, transaction to move to 2nd stage: DIPAM Secy
New Delhi: The government has received multiple bids for the disinvestment of its stake in debt-ridden national carrier Air India, secretary of Department of Investment and Public Asset Management (DIPAM) informed on Twitter. Multiple expressions of interest have been received for strategic disinvestment of Air India. The transaction will now move to the second stage, the secretary tweeted on Monday as the bidding process concluded.