Friday, April 30, 2021

Tata group pulls ahead of SpiceJet promoter in race for Air India

Tata Sons has quoted a price higher than SpiceJet promoter Ajay Singh for Air India in a preliminary bidding round, two people told Mint. 

Tata Sons is in the driver’s seat in the proposed divestment process as the second wave of Covid-19 has dampened Air India’s valuation further, the sources said. 

As per reports, Tata group and SpiceJet’s Singh, in his individual capacity, have been the only shortlisted candidates to bid for the carrier. 

Air India has around $10 billion worth of debt, of which Tata Sons may ask the government to take care of more than $5 billion. 

30/04/21 Ankit Agarwal/VCCircle

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