Photo: Ramesh Pathania/MintNew Delhi: The Tatas had formally shown an interest in Air India’s stake sale, Union minister of state for civil aviation Jayant Sinha said on Thursday. The government has given its nod for the disinvestment of Air India, which has a debt of over Rs50,000 crore and is staying afloat on taxpayers’ money. “We have, of course, received from both IndiGo as well as the Tatas indications of interest for the airline (Air India), and then, we have received formal indications of interest for the other aspects of the Air India group. Ground services providers such as the Bird Group and Turkish company Celebi have also shown interest in acquiring the ground handling arm of the Air India — the Air India Air Transport Services Limited (AIATSL). On 28 June, the Cabinet Committee on Economic Affairs (CCEA) had given its agreement in-principle for the strategic disinvestment of Air India and five of its subsidiaries.

Source: Mint December 01, 2017 05:03 UTC