Speculation Of 3 Companies Joining The Race To Buy Air India
Speculation of 3 companies joining the race to buy Air India. The bid deadline for Air India expires on Monday.
Meanwhile, there is speculation that major corporate houses Tata, Adani, and Hinduja are interested in buying it.
The last date for bidding for Air India is 14 December and the government has not extended the deadline.
However, the government has extended the Intimation Date for the bidders for Air India to 5 January, up from 29 December earlier.
This is the date of announcing the names of the shortlisted bidders. Physical bids should be in place by 29 December. Now there have been reports of interest of three big corporate houses in it.
Reports suggest that the Tata group, Adani and Hinduja, and many others are willing to bid for Air India. However, neither of them has officially said so.
Meanwhile, a group of 209 employees of Air India is preparing to bid for the national carrier in partnership with a private financier.
As stated earlier, Air India employees are preparing to bid for the national carrier in partnership with a private equity fund and each employee will be asked to contribute Rs 1 lakh for the bid.
The bidding process is led by Meenakshi Mallick, Commercial Director of Air India. However, unions representing pilots and cabin crew have advised their members not to participate in the employee bid.
On the other hand, Air India has got some relief in the UK. A UK court gave Air India a time till January to pay the dues of $ 17.6 million. The company has to pay for the aircraft lease.
The judge accepted the company’s plea that the aircraft could not be operated due to the Kovid-19 lockdown, which worsened the company’s financial condition.
Tata group will file an expression of interest for Air India today
The Tata group will file an expression of interest for Air India on Monday. This information has been revealed by quoting sources.
According to sources, the Tata group will use Air Asia as a vehicle where Tata Sons have a significant stake. The rest of the details are awaited in this news.
