Tata Sons are set to file the Expression of Interest (EoI) for a strategic disinvestment process of Air India, according to reports.
As the deadline for bidding for Air India ends on Monday, reports have suggested that leading corporate houses Tata, Adani and Hinduja may be interested. The final date for submission of bids for Air India strategic sale is December 14 and the government has not extended the deadline.
However, the government has extended the intimation date for bidders for Air India to January 5, from the earlier date of December 29. This is the date for announcing the shortlisted bidders. The physical bids need to be in by December 29.
The Air India Disinvestment
The government has been trying for two years to divest its Air India. It wants to divest 100 per cent stake in Air India and budget carrier AI Express, and sell its 50 per cent share in Air India SATS Airport Services, a joint venture with Singapore-based ground handling firm SATS. The government has further sweetened the deal and now it will be sold on its enterprise value.
Reports have now emerged of three big ticket corporate houses interested in the national carrier. Reports suggest that the Tata Group, Adani and Hinduja several others are evaluating bids for Air India. However, none of these have officially said so.
A group of 209 employees of Air India are making preparations to bid for the national carrier in partnership with a private financier. As reported earlier, Air India employees are preparing to bid for the national carrier in partnership with a private equity fund and each employee will be asked to contribute Rs 1 lakh towards the bid.
The bid process is being led by Meenakshi Mallik, Commercial Director, Air India. However, the unions representing pilots and cabin crew have advised their members not to participate in the employee bid.
