Air India Sale: Will The Tatas Own Stake in The Airline?

Tata Sons has emerged as a main bidder to take over 100% stake in the beleaguered national carrier Air India after the expression of interest (EoI) deadline ended. There were other suitors as well including a consortium of Air India employees and US-based fund Interups. Along with 100% stake in the airline, the government is also selling its low-cost subsidiary Air Indian Express. In 2018, the government had failed to garner a single company to bid for the Air India, following which it had to shelve the process. AI’s debt-cum-liabilities’ combined burden is almost Rs 90,000 crore. It may be noted that is not first time that there’s been a bidding for Air India. In May 2018, AI had opened its doors for private players but no company was interested in the beleaguered company back then. Right now, the govt. has offered for sale its 100% stake in AI and AI Express — instead of 76% in the first attempt — and the entire 50% it owns in ground handling joint venture AI-SATS.