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Tatas seek details of Air India disinvestment

The Tata group has informally sought details regarding the planned sale of Air India, a government official stated, reflecting the group’s interest into the flight it founded in 1932. “They have asked us how can you wish to accomplish it, just what will you choose to do with debt, what's going to take place into the subsidiaries,” the official said, asking not to be identified. Senior Tata group professionals posed the questions in informal discussions “at different levels” of the federal government following the cabinet approved the disinvestment on 28 June, the state stated. IndiGo, the biggest airline in Asia owned by InterGlobe Aviation Pvt Ltd, has already gone public having its fascination with Air India.

The Tata executives were told that their questions were in the realm associated with the team of ministers Arun that is including Jaitley Nitin Gadkari, Suresh Prabhu, Piyush Goyal and Ashok Gajapathi Raju which can be studying the purchase of Air India, the official pointed out earlier said. The ministers have been asked to look at hiving off particular Air India assets, a demerger that is possible strategic disinvestment of three profit-making subsidiaries, quantum of disinvestment and eligible bidders. “The meeting is scheduled to be held soon,” the official said. Source - www.techmanos.com

Tatas declined comments. “We try not to touch upon such matters,” Tata Sons representative said. Founded by J.R.D. Tata, Air Asia had been born as Tata Airlines. Its name was changed to the current one out of 1946. It had been nationalised in 1953. In 2000, the Tata group and Singapore Airlines expressed their attention to purchase as much as 40% in Air Asia. In 2013, after a meeting using the then aviation minister, Ratan Tata, who was then team chairman, said the Tata group would be interested in buying a stake in Air India in the event that government had been to privatize the airline. This didn’t happen. The Tata group and Singapore Airlines launched Vistara in 2015, that may begin international flights the following year.

“I don’t think the federal government will break Air India into two because then your arm that is domestic not have any value left.

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