Govt receives many queries on Air India from non-aviation entities
.jpg)
Amid reports of Indian civil aviation companies being lukewarm to buying Air India, the government says it has received many queries from a number of aviation and non-aviation companies for the flagship national carrier.
The queries have been addressed to EY, the transaction advisor for the sale of Air India, Air India Express, and the flagship’s 50 per cent stake in Air India SATS. The last date to submit queries by interested parties was April 16.
“The transaction advisor has received a number of queries from both aviation and non-aviation companies,” said Neeraj Gupta, secretary at the department of investment and public asset management (DIPAM), told Business Standard. He did not provide further details on the companies.
According to the prevalent practice, the transaction advisor responds to the queries on its own or forwards them to the line ministry – in this case the civil aviation ministry – or DIPAM, if need be. EY will respond to the queries by April 30, the expressions of interest (EoIs) by prospective buyers are to be submitted by May 14, and qualified interested bidders will be informed by the government by May 28.
Another official said a similar response is expected for helicopter services company Pawan Hans as well, in which the government looks to sell the 51 per cent stake it owns. The remaining 49 per cent stake is held by state-owned oil giant ONGC.
The transaction advisor for Pawan Hans is SBI Capital Markets. The last day of queries from prospective buyers is May 14, SBI Caps will have to respond to them by May 28, the last date of submitting EoIs is June 11, and qualified interested bidders will be informed by July 2.
Two of the major Indian airline companies, IndiGo, and Jet Airways, as well as the Tatas, have reportedly ruled themselves out from the bidding race to buy Air India.
Other Latest News
.webp)
Goa Chief Minister Pramod Sawant has termed as "historic" the Union cabinet's approval of the 'one nation, one election' proposal, and claimed that the move will be cost-effective and governance-friendly. The Union cabinet on Wednesday accepted the recommendations of a high-level committee headed by former president Ram Nath Kovind for holding simultaneous polls for the Lok Sabha, state assemblies and local bodies in a phased manner after a countrywide consensus-building exercise.
.webp)
IPO-bound travel tech platform OYO on Saturday announced it has agreed to acquire iconic American budget hotel chain Motel 6 and Studio 6 brands from Blackstone Real Estate for $525 million in an all-cash transaction, as the Indian unicorn eyes expansion in the US.
Oravel Stays, the parent company of OYO stated that it has agreed to acquire G6 Hospitality, the leading economy lodging franchisor and parent company of Motel 6 and the chain's offshoot hotel brand, Studio 6.
.webp)
Air India has hired 9,000 employees, including 5,000 crew members, in the last two years to meet the workforce requirement for its expanding fleet and network, the airline's chief Campbell Wilson said on Friday.
In a message to staff, he said the airline's domestic market share rose from 24 per cent in FY23 to 27 per cent in FY24 and the international market share climbed from 21 per cent to 24 per cent during the same period, on the back of network expansion and service improvements.
.webp)
Polls opened on Saturday in Sri Lanka's crucial presidential election -- the island nation's first major electoral exercise since its worst economic meltdown in 2022.
Some 17 million people are eligible to vote at over 13,400 polling stations.
.webp)
Congress leader Rahul Gandhi on Friday raised concerns over reports of adulteration in the renowned Tirupati laddu, a sacred offering given at the Sri Venkateshwara temple in Andhra Pradesh. In a social media post, Gandhi called for a thorough investigation into the matter, emphasizing the importance of preserving the sanctity of religious places.
.webp)
.webp)
.webp)
.webp)
.webp)
