Air India Sale: Final financial bids for the cash-strapped airline were presented to the government on Wednesday, putting the government one step closer to selling the airline. Air India has been targeted by two groups that have filed offers to acquire the airline.
This news has been verified by a business official, who stated that Tata Sons is among the parties that have submitted their financial bids for Air India.
Ajay Singh, the founder, and CEO of SpiceJet has also filed a bid for the airline. Singh, on the other hand, has placed the bid in his individual capacity. The information we have received indicates that Singh is trying to create a partnership to buy Air India.
Today was the final day for submitting financial proposals for the purchase of Air India by the government of India. A financial proposal for the disinvestment of Air India has been received by the Transaction Adviser.” According to DIPAM Secretary, the procedure has now reached the final stage.
As a result of the Covid-19 epidemic, Air India’s divestiture process has been significantly delayed, and this represents a big step forward.
When the government announced an offer to sell a 76 percent interest in Air India in 2018, it was unable to find a buyer for the company. The government, on the other hand, is trying to sell its whole share in Air India at this point.
The offer comprises the entirety of Air India and Air India Express, as well as a 50 percent interest in the ground handling capacity of AISATS (Air India Air Transport Services).
Too far, Air India has authority over around 4,400 domestic and 1,800 international landing and parking slots at domestic airports, according to industry estimates. It also offers 900 available slots for travel outside of the country.