The Tata group is unlikely to bid for Air India due to legacy issues with the national carrier, which could cause legal hurdles in the acquisition process going forward, reported Business Standard, citing sources.
The group will instead grow and invest in its two joint venture airlines, Vistara and AirAsia India, said the sources mentioned in the report, adding that the fleet size could go up to 200 aircraft in the next few years.
"The capital allocation for Vistara is already cleared, and the idea is to gain market share steadily," one of the sources was quoted as saying in the report. "With both airlines doing well, the group doesn't need a third," the source added.
The government is preparing a fresh proposal for the national carrier's sale and is likely to relax bidding norms on possible reasons of failing to attract bidders for the national carrier.
20/06/19 CNBC TV18
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The group will instead grow and invest in its two joint venture airlines, Vistara and AirAsia India, said the sources mentioned in the report, adding that the fleet size could go up to 200 aircraft in the next few years.
"The capital allocation for Vistara is already cleared, and the idea is to gain market share steadily," one of the sources was quoted as saying in the report. "With both airlines doing well, the group doesn't need a third," the source added.
The government is preparing a fresh proposal for the national carrier's sale and is likely to relax bidding norms on possible reasons of failing to attract bidders for the national carrier.
20/06/19 CNBC TV18
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