The Tata Group has casually looked for details from the central government on the arranged offer of Air India, its obligation and about the future course of its subsidiaries. This reflects the group’s interest in the airline it established in 1932. According to reports, senior Tata Group officials suggested conversation starters in casual discussions “at various levels” of the administration after the cabinet approved the disinvestment on 28th June. HERE IS ALL YOU NEED TO KNOW 1. The Tata Group has been directed by a government official to approach the Group of Ministries concerned with their queries. 2. The airline is already operating its flights to seven international destinations like Dubai, Singapore, Sharjah, Bangkok, Doha, Muscat and Kathmandu. 3. The GoM consisting of Finance Ministry, Transport Ministry, Railway Ministry, Power Ministry and finally the Civil Aviation Ministry would take a final call on any decision about Air India’s privatization. 4. After the Cabinet’s decision to dis-invest the airline, a few private players have shown their interest in buying Air India. 5. IndiGo has already shown its interest in buying Air India’s international business. 6. Air India has a huge debt of Rs 52,000 crore and was surviving on Rs 42,000-crore lifeline given in 2012 by the UPA-2 government. 7. It had an loss of Rs 2,636 crore in 2014-15.
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By Michel |
July 20, 2017
Tata Group looks for Air India’s obligation and disinvestment prepare
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