Tatas to consider buying Air India: Chandra
Tata Sons Ltd executive chairman Natarajan Chandrasekaran has said the group will look at Air India Ltd disinvestment being executed by the government currently. The group, however, needs more details from the government on the process, Chandrasekaran told CNBC-TV18 in an interview, excerpts of which were released on Monday morning.
He said the group can’t remain with a fleet of just over a dozen planes, referring to their new startup Vistara in alliance with Singapore Airlines.
This is the first formal statement by the Tata Group on Air India.
Mint reported on 21 June that the group has sought details of the Air India disinvestment in meetings with government officials.
In 2000, the Tata group and Singapore Airlines had expressed their interest in acquiring up to 40% of Air India. In 2013, after a meeting with then aviation minister, Ratan Tata had said the Tata group would be interested in buying a stake in Air India if the government were to privatize the airline.
Air India was launched in 1932 by JRD Tata as Tata Airlines. Its name was changed to the current one in 1946. The government decided to take it over in 1953.
On Sunday, PTI reported that a government-appointed panel has said the privatisation of Air India will have serious consequences on Haj flights and suggested the minority affairs and civil aviation ministries prepare their response in case the proposed privatisation goes through. The committee, tasked with proposing the ‘Haj Policy 2018-22’, has also suggested that the Centre engage with the Saudi Arabia government and try to get the option of undertaking global tenders for Haj air charter operations.
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