The reshuffle was done by Air India Chairman N Chandrasekaran, who is also the chairman of Tata Sons, , air india, n chandrasekaran, top management, reshuffle
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Tata, Spicejet left in race to acquire Air India, other EoIs rejected: report
08 March 2021
Tata Group and private airline Spicejet are the only remaining bidders for acquiring Air India as all the other expressions of interest (EoI) have been rejected after evaluation, reports citing sources close to the development said.
The odds seem to favour Tata Sons, which is reported to be planning consolidation of its aviation business comprising the two joint ventures of Air Asia and Vistara.
The group is also reported to be setting up a strategy team headed by group chief financial officer Saurabh Agrawal to explore various possible solutions such as mergers and on rebranding its airline ventures, reports citing sources close to the development said.
Mumbai: A group of Air India Ltd. employees has been ruled out of a bidding process to take control of the loss-making national carrier, as the government moves ahead with its years-long attempt to offload the airline. I write to you with a heavy heart on the outcome of our bid to acquire Air India, the airline s commercial director Meenakshi Malik wrote in a letter to employees dated March 8. We have been unsuccessful in qualifying to the next phase of the Disinvestment Acquisition process.
Citing a letter from Ernst & Young, which is advising the government on the sale, Malik said the group didn t meet eligibility requirements. They include submitting three years of audited financial statements for foreign consortium members and being an appropriately regulated foreign investment fund. The group of employees partnered with a Seychelles-based fund for the bid.