Deadline For Bidding Ends Today: Who Will Buy Air India?
New Delhi: The deadline for bidding for India’s national carrier Air India ends on Monday. So who will take over? Will it be Tata, Adani, Hinduja or a group of 209 Air India employees backed by a financier?
The government has been trying for two years to divest its 100 per cent stake in Air India and 50 per cent share in Air India SATS airport services. This time, the government has not extended the deadline.
Tata Sons are believed to be frontrunners in the bid process.
The Maharaja could also go into the hands of 209 Air India employees, led by their Commercial Director Meenakshi Mallik. Each employee has contributed Rs one lakh towards the bid via a private equity fund. If they get it, the consortium of employees will hold 51 per cent stake while the remaining will be held by the financial partners.
“We have submitted an EoI along with a partner who will give us financial backing,” Mallik confirmed to Business Standard but did not disclose any other details.