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Tata, Spicejet left in race to acquire Air India, other EoIs rejected: report

Firms/companies > A > Air-India
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. ....

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Air India employees will not get chance to buy loss-making national airline

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. ....

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Air India privatisation: Centre to invite financial bids by March-end

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. ....

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Air India privatisation: Centre to invite financial bids by March-end

Air India privatisation: Centre to invite financial bids by March-end
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Employees out of race to run Air India; Tatas, SpiceJet in fray

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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By Express News Service
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. ....

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