Tata, SpiceJet submit bids for Air India |
The Tata Group through a holding company is among the front-runners to acquire Air India. Budget airline SpiceJet chairman Ajay Singh is also expected to pitch for the airline. Singh is making the bid in his personal capacity. Aviation Minister Jyotiraditya Scindia had earlier made it clear that the September 15 deadline for the process is fixed and will not change. Tatas set up Tata Airlines in 1932 which in 1946 was renamed Air India. The government took control of the airline in 1953 but JRD Tata continued to be its chairman till 1977. At present, Tata operates Vistara in partnership with Singapore Airlines and AirAsia India in partnership with Malaysia`s AirAsia. Air India has a debt of ₹ 43,000 crores of which ₹ 22,000 crores will also be transferred to the Air India Asset Holding Limited (AIAHL). The government is planning to sell 100% stake in the airline and its low-cost arm Air India Express and 50% stake in ground handling company Air India SATS Airport Services Private Limited (AISATS). Other properties include Mumbai`s Air India building and Delhi`s Airlines House will also be part of the deal. Currently, the airline controls over 4,400 domestic and 1,800 international landing and parking slots at domestic airports as well as 900 slots abroad.
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