Business

Tata will have Air India! Final deal will happen in Navratri! The government can announce it on Friday

If the government's deal with Tata is confirmed, then Air India will have a 'ghar wapsi' after 68 years.  According to information received from sources, on Friday, the government can stamp Tata's name.

The new owner of Air India can be announced on Friday. According to information received from sources, the government has chosen Tata.

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If the government’s deal with Tata is confirmed, then Air India will have a ‘ghar wapsi’ after 68 years. According to information received from sources, on Friday, the government can stamp Tata’s name.

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Under the deal, Air India's head office in Mumbai and Delhi's Airlines House are also included.  The market value of the Mumbai office is more than Rs 1,500 crore.  At present, Air India controls 4400 domestic flights and 1800 landing and parking slots abroad.

Under the deal, Air India’s head office in Mumbai and Delhi’s Airlines House are also included. The market value of the Mumbai office is more than Rs 1,500 crore. At present, Air India controls 4400 domestic flights and 1800 landing and parking slots abroad.

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Let us tell you that the process of selling Air India was started in January 2020 itself, but due to Corona epidemic it was continuously delayed.  In April 2021, the government once again asked eligible companies to bid.  September 15 was the last day for bidding.  In the year 2020 also, the Tata Group had given a letter of interest regarding the acquisition of Air India.  After the government relaxed the rules of expression of interest (EOL), some companies showed interest in buying the debt-ridden Air India.  Under the new rules, the provisions of the loan were relaxed so that the owned company does not have to bear the entire debt.

Let us tell you that the process of selling Air India was started in January 2020 itself, but due to Corona epidemic it was continuously delayed. In April 2021, the government once again asked eligible companies to bid. September 15 was the last day for bidding. In the year 2020 also, the Tata Group had given a letter of interest regarding the acquisition of Air India. After the government relaxed the rules of expression of interest (EOL), some companies showed interest in buying the debt-ridden Air India. Under the new rules, the provisions of the loan were relaxed so that the owned company does not have to bear the entire debt.

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As on 31 March 2019, the company had a debt of Rs 60074 crore.  In the quarter ended March 2021, the company is expected to be in a loss of Rs 9500 to 10000 crores.  The company that buys Air India will have to pay only Rs 23,286.5 crore.  The remaining debt will be transferred to Air India Asset Holdings Limited, created for the special purpose.  This means that the rest of the debt will be borne by the government itself.

As on 31 March 2019, the company had a debt of Rs 60074 crore. In the quarter ended March 2021, the company is expected to be in a loss of Rs 9500 to 10000 crores. The company that buys Air India will have to pay only Rs 23,286.5 crore. The remaining debt will be transferred to Air India Asset Holdings Limited, created for the special purpose. This means that the rest of the debt will be borne by the government itself.

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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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