Tata Group has reportedly presented an expression of interest for the debt-laden national airline Air India over the weekend. Earlier, various news reports suggested that the Tata Group had begun due attention and likely to make its proposal close to the December 14 official deadline.
New Delhi-based senior airline official said, “Air India is a legendary brand, which has some good assets that include slots, aircraft, and a sizeable international market share. The privatization of the national carrier may however be difficult to execute during the current pandemic, which is bleeding out airline companies.”
Civil Aviation Minister Hardeep Singh Puri on Sunday said, “It is a confidential procedure. The department concerned will comment at the appropriate time.” Last year, the minister had mentioned the carrier would have to shut down if not privatized.” The Tata Group is considered to have used its fund’s airline joint investment in India with Malaysia’s AirAsia Group, Air Asia India, to submit the EoI, according to a report in ToI. Many news reports said that Tata Sons was contemplating slowly raise its stake in AirAsia India to more than 76 percent by the end of 2020-21.