Officials met with as many as nine companies during roadshows to gauge interest in a stake sale in
Air India, people with knowledge of the matter said.
Offiicial met executives of companies including British Airways parent IAG SA, IndiGo, India’s
biggest airline that’s operated by InterGlobe Aviation Ltd., SpiceJet Ltd. as well as Tata Sons Ltd.,
the people said asking not to be identified discussing preliminary meetings.
A successful sale of Air India Ltd. aer a failed attempt in 2018 is crucial for Prime Minister
Narendra Modi to help bridge a widening fiscal deficit exacerbated by dismal tax collections and a
$20 billion corporate tax cut. Air India, which started as Tata Airlines in 1932 and later acquired by
the government, hasn’t made money since 2007. The airline posted a loss of $1.2 billion last year --
its highest ever -- and has $8.4 billion in total debt.
31/01/20 Siddhartha Singh/Bloomberg/Deccan Herald
To Read the News in full at Source, Click the Headline
Air India, people with knowledge of the matter said.
Offiicial met executives of companies including British Airways parent IAG SA, IndiGo, India’s
biggest airline that’s operated by InterGlobe Aviation Ltd., SpiceJet Ltd. as well as Tata Sons Ltd.,
the people said asking not to be identified discussing preliminary meetings.
A successful sale of Air India Ltd. aer a failed attempt in 2018 is crucial for Prime Minister
Narendra Modi to help bridge a widening fiscal deficit exacerbated by dismal tax collections and a
$20 billion corporate tax cut. Air India, which started as Tata Airlines in 1932 and later acquired by
the government, hasn’t made money since 2007. The airline posted a loss of $1.2 billion last year --
its highest ever -- and has $8.4 billion in total debt.
31/01/20 Siddhartha Singh/Bloomberg/Deccan Herald
0 comments:
Post a Comment