New Delhi. The authorities is ready to promote its total 100 per cent stake in Air India. For this, the federal government has requested for functions by 17 March. Investors who’re inquisitive about buying Air India can submit their bids by 17 March. It is just not that the federal government is attempting for the primary time to promote Air India. Earlier unsuccessful makes an attempt have been made by the federal government to promote Air India. But this time the federal government appears to be profitable in promoting Air India. Tata group might purchase Air India. Yes, the identical Tata group that based Air India on 15 October 1932 can as soon as make Air India their very own. <! –
Air India was began by the Tata group underneath the identify of Tata Airlines. Subsequently, in 1953, the Government of India bought the utmost stake of Tata Airlines from Tata Sons and nationalized it.
Singapore Airlines-Tata group will purchase collectively
According to a Times of India report, the Tata group will purchase out the federal government airline Air India together with Singapore Airlines. These two firms are very near submitting bids to purchase Air India. They have already began engaged on the construction of the deal, together with the merger of AirAsia India, by which they maintain a 51 per cent stake. At the identical time, Air India may even be merged, which is a 100 per cent subsidiary of Air India. A brand new settlement is anticipated to be signed quickly. Tata has proposed to merge AirAsia India and Air India Express.
Air India's monetary situation is unhealthy
Air India's monetary situation is extraordinarily poor. The firm has incurred a lack of Rs 69,575.64 crore within the final 10 years. Aviation Minister Hardeep Singh Puri had himself given accountability for this in Parliament in December. Air India had a lack of Rs 5438.18 crore in 2017-18 and Rs 8556.35 crore in 2018-19. Not solely this, Air India additionally has a debt of Rs 60,000 crore. An Air India official had mentioned that if an investor doesn’t purchase Air India by June 2020, its destiny could possibly be much like Jet Airways.
– Sword hangs on Air India, shall be closed if purchaser is just not discovered