House of tata, Airline

New Delhi, March 26 The much-delayed privatisation of Air India is likely to complete in the first half of this year.Speaking at the Times Network India Economic Conclave, the Union Minister for Civil Aviation, Hardeep Singh Puri said that financial bids for the national carrier will be submitted sometime in May. He said that the timeline for the submission of financial bids was decided in a meeting on Thursday."Yesterday there was a meeting. They have decided that the financial bids have to come in within 64 days...the financial bids will be in sometine in May...after that its a question of taking a decision and handing over the airline," he said.He added that earlier attempts at privatisation were not successful because the attempts were "half hearted".The airline which did not attracted any buyer for long now has witnessed Tata Sons and SpiceJet's promoter Ajay Singh come up as potential bidders, according to industry sources.Further, reports suggest that Ajay Singh has partnered with Ras Al Khaimah Investment Authority, and Ankur Bhatia, promoter of Delhi-based Bird Group to jointly place the bid for Air India.DIPAM Secretary Tuhin Kanta Pandey had earlier said that the government has received multiple expressions of interest for the strategic disinvestment of Air India.The process has been divided into two stages. In stage one, expressions of interest have been submitted by the interested bidders and they will be shortlisted based on the eligibility criteria and other terms mentioned in the Preliminary Information Memorandum (PIM).In stage two, the shortlisted interested bidders will be provided with a request for proposal (RFP) and thereafter there will be a transparent bidding process.A group of 209 employees of Air India had also put in a bid. Essar and Pavan Ruia of Dunlop and Falcon Tyres had also put in bids for Air India.The privatisation of the flag-bearer has already faced several hurdles with initial lack of interest for the airline.In view of the situation arising out of the Covid-19 pandemic, the last date for submission of EOIs was extended up to December 14, 2020.( With inputs from IANS )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

House Of TataFOLLOW

House of tata, Latest News

In a Covid-stricken world, as people are trying to cope and readjust their lives with umpteen challenges in terms of health and work schedules, Air India is trying to facilitate safe travel and bring a respite in such unprecedented times. ...

Pilots' union of national carrier Air India (AI), Indian Commercial Pilots Association (ICPA), on Tuesday wrote a letter to Director General of Civil Aviation (DGCA) Arun Kumar requesting to put a temporary stay on Breath Analyser (BA) test before an ...

Amid a record rise of COVID-19 cases in India, national carrier Air India (AI) has decided to set up a mass vaccination camp for its employees aged 45 years or above on priority. ...

Air India has asked its officers to attend office on all Saturdays-- which is usually an off day-- to expedite the process of disinvestment of National Carrier. ...

Union Civil Aviation Minister Hardeep Singh Puri on Saturday stated that the privatisation of Air India is likely to be completed by the end of May-June. ...

Nepal will receive 100,000 more doses of COVID-19 vaccines from India on Saturday. ...

Union Civil Aviation Minister Hardeep Singh Puri on Saturday stated that the privatisation of Air India is likely to be completed by the end of May. ...

New Delhi, March 26 The much-delayed privatisation of Air India is likely to complete in the first half ... ...