New Delhi: There is no home of other companies in India which is in a better position than Tata Group for the Takeover of Airline Airline India, former Deputy Chair of the Montek Singh Planning Commission on Thursday.
Tata Sons has emerged as the top bidder for the takeover of the airline managed by the government but the offer has not been approved by a group of ministers led by Minister of Home Affairs Amit Shah.
“You can’t have a better company, with a better position than Tatas, we can submit it (airline airline airline India) ends,” he said while answering questions in a virtual event.
“I think the idea that you will remain with the airline for 20 years and allow it to carry out a big loss because it helps you evacuate several hundred Indians once in 20 years from the environment only garbage,” he added.
The financial offer included by the conglomerate salt-to-software and promoter Spicejet Ajay Singh opened a few days ago and was examined by the Secretary’s core group at the Disinvestment led by the Cabinet Secretary earlier this month.
The offer was evaluated against the reserve price set and tatas appeared as the highest bidder.
Other members of the panel called Air India Specific Alternative Mechanism (AISAM) was Minister of Finance Nirmala Sitharaman, Minister of Trade Piyush Goyal and Civil Aviation Minister Jyotiraditya SCINDIA.
Jehangir Ratanji Dadabhoy (JRD) Tata established airline in 1932.
It was called Tata Airlines.
In 1946, the Tata Sons flight division was registered as Air India and in 1948, Air India International was launched with flights to Europe.
International services are one of the first public-private partnerships in India, with the government holding 49 percent, tatas maintaining 25 percent and the public has the rest.
In 1953, Air India was nationalized.
The government tried to sell 100 percent of its shares in state-owned national airlines, including 100 percent of 100 percent share ownership at AI Express Ltd and 50 percent in Air India Sats Airport Supply Private Ltd.
The sales process, which began in January 2020, faced a delay due to Covid-19 pandemic.
In April 2021, the government asked prospective bidders to submit a financial offer.
Tata Group was among several entities that had placed an interesting initial expression (EOI) in December 2020 to buy Maharaja.