Friday, July 10, 2020

AirAsia in talks for fresh capital, reports of Indian exit

Tata Group, one of India's largest multi-industry conglomerates, has emerged as the only bidder interested in acquiring Air India, ET Now has reported.

Unnamed sources said the group had already appointed a law firm to look into a possible transaction and had also held talks with the government. However, any formal expressions of interest have yet to be announced. The current deadline for binding bids falls on August 31, 2020, although the Indian government is reportedly prepared to extend it given the impact of the COVID-19 pandemic.

Tata already owns 51% stakes in two Indian joint venture airlines; Vistara (UK, Delhi Int'l) (with Singapore Airlines Group) and AirAsia India (I5, Chennai) (with AirAsia Group). The holding's chairman, N. Chandrasekaran, has previously said that the group would seek to merge Air India with one of its other two airlines, presumably full-service carrier Vistara, should it succeed in the privatisation process.
10/07/20 ch-aviation
To Read the News in full at Source, Click the Headline


Post a Comment