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.
Tata Sons, Spicejet in the race for Air India, after employees’ consortium was disqualified
IANS
According to news reports,
Air India’s divestment advisors have rejected other bids, and only the Tatas and India’s largest cargo operator Spicejet remain in the fray for buying the cash-strapped flag carrier.
A group of 209 employees of Air India had also put in a bid. And while confirming the news, Air India’s Commercial Director Meenakshi Malik told Moneycontrol that the consortium hadn t made it to the next round of divestment.
Media reports further indicated that Essar,
Pawan Ruia of Dunlop and Falcon Tyres had also put in bids for Air India however, the bids have been rejected.After the consortium of Air India employees backed by NRI businessman Laxmi Prasad and his New York-based Interups Fund was disqualified only the Tata Group and India’s largest cargo operator Spicejet remain in the fray for buying the cash-strapped Air India, according to news reports.
Air India employee consortium out of privatisation race
The bid for Air India stake sale from employee consortium was turned down due to three reasons, stated Meenakshi Malik, Commerical Director of the airline and leader of the group
BusinessToday.In | March 8, 2021 | Updated 23:01 IST
Air India employee consortium, which had bid for taking over the national carrier, could not advance to the next round of the disinvestment process.
Meenakshi Malik, Commercial Director of the airline, reportedly informed the consortium in a three-page letter that it did not make the cut to advance to the next stage of the stake sale, reported the Mint. Malik has been leading the employee consortium.
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