Employees out of race to run Air India; Tatas, SpiceJet in fray
While Tata Sons’ interest to own the airline, which it had started, is known, SpiceJet’s promoter Ajay Singh is said to have submitted an Expression of Interest in his personal capacity.
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NEW DELHI: The Air India employee consortium that had put in an Expression of Interest (EoI) for the privatisation of the national airline, has failed to make the cut to the next round.
The consortium’s bid was rejected as it failed to meet the eligibility criteria. With this fresh disqualification, now only two players are left in the race to acquire the Maharaja.
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.
Tatas, Air India staff join race for airline
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Air India had current liabilities and provisions, including short-term loans and trade payables, of ₹70,686.6 crore and net debt of ₹58,255 crore at the end of March 2019.
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The Tata group and a consortium consisting of Air India employees and a financial investor have shown interest in buying the national carrier that last reported a profit in 2007, two people familiar with the developments said.
The expressions of interest (EoIs) will give the Tata group, and the consortium consisting of New York-based Interups Inc. and a group of
Multiple parties show interest in Air India: Govt hindustantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hindustantimes.com Daily Mail and Mail on Sunday newspapers.