Government begins process for inviting financial bids for Air India sale, deal to conclude by September
Tata Group was among the multiple entities that had put in preliminary bids for buying loss-making Air India in December last year.
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NEW DELHI: The government has initiated the process for inviting financial bids for the sale of national carrier Air India and the deal is likely to conclude by September, sources said.
Salt-to-software conglomerate Tata Group was among the multiple entities that had put in preliminary bids for buying loss-making Air India in December last year.
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A woman looks at her phone as she walks past a Huawei shop in Beijing, China May 16, 2019. Credit: Reuters/Thomas Peter/Files
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Air India privatisation: Centre to invite financial bids by March-end
The shortlisted entities might be given time till June or early July to furnish their financial bids. After the bids are locked, the stake sale will take another 3-4 months to finalise after evaluation of the bids
BusinessToday.In | March 11, 2021 | Updated 22:27 IST
Central government is reportedly planning to invite financial bids for privatisation of national carrier Air India by the end of this month. The plan is to wrap up the disinvestment process in the second half of the current calendar year.
The shortlisted entities might be given time till June or early July this year to furnish their financial bids, reported CNBC-TV18. After the bids are locked, the sale of Air India will take another 3-4 months to finalise after evaluation of the financial bids.
Updated Mar 08, 2021 | 21:50 IST
After the latest development, now, Tata Group and SpiceJet promoter Ajay Singh are among those left in the bid to take over the national carrier. Tata seems to the leading the race at the moment Air India sale: Employee consortium disqualified from bid, Tatas favourite
New Delhi: The Air India employee consortium failed to make it to the next round of divestment process as their Expression of Interest for the privatization of the national carrier did not made the cut. In a three-page letter to employees, Meenakshi Mallik, Commercial Director, informed the consortium that its bid was not shortlisted.