Tata Group to file Expression of Interest for Air India today: Reports
First Published Dec 14, 2020, 10:23 AM IST
Tata Group has reportedly expressed interest in buying national carrier Air India. Media reports have claimed that Tata Group is set to submit its expression of interest for the national carrier today.
News agency ANI quoted sources to say that the Tata group will use Air Asia as a vehicle where Tata Sons has a significant majority stake.
An Expression of Interest is only the first step of the strategic divestment process.
According to CNBC-TV18, Tatas may look at buying out Tony Fernandes from Air Asia joint venture and route Air India deal via that.
Last day for submitting EOIs
Today is the last day for submitting Expression of Interest for Air India. Interested entities are required to submit the physical bids within 15 days from today.
The central government had restarted the divestment process in January this year and invited bids for selling 100 per cent of its equity in the state-owned airline.
This included Air India's 100 per cent shareholding in Air India Express Ltd, which is the international budget arm and 50 per cent in Air India SATS Airport Services Private Ltd.
As per the Air India EoI floated by the Department of Investment and Public Asset Management in January, of the airline's total debt of Rs 60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs 23,286.5 crore, while the rest would be transferred to Air India Assets Holding Ltd
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