Tata Sons, the holding company of the $113 billion salt-to-software conglomerate, has decided to bid for the embattled national carrier Air India; bid deadline extended to December 14.
The Tata Group is reportedly in talks with its joint venture partner in Vistara, Singapore Airlines, to waive off a non-compete clause and partner with it in a proposed bid for the beleaguered national carrier Air India. The bid will be through Vistara, a full-service airline. According to the officials cited above, the government is believed to be of the view to let the Tata Group acquire and run Air India and has pledged to be helpful following privatization on backing the group in dealing with bureaucratic hassles.
A group director said, “Our group chairman has clearly stated that the airline businesses have to be consolidated and there cannot be multiple airlines. So Air India being a full-service carrier, it is only sensible that it will come under the Vistara business which is a full-service carrier too. So we are hopeful that our partner will be willing to participate in the future plans that include Air India.” He also said, “So Air India being a full-service carrier, it is only sensible that it will come under the Vistara business which is a full-service carrier too. So we are hopeful that our partner will be willing to participate in the future plans that include Air India.”
Post Your Comments