Friday, November 22

Tag: Air India

Centre May Completely Exit Air India, Sell It’s Residual Stake to LIC
INDIA

Centre May Completely Exit Air India, Sell It’s Residual Stake to LIC

A Business Standard Report suggests that Government may completely exit Air India by selling its residual stakes to Life Insurance Corporation of India (LIC) and other financial institutions. As per the plans, 76 percent of equity would be sold in the national carrier, 50 percent in ground handling and AISATS hospitality firm, while 100 percent would go in its subsidiary Air India Express. This move will make things clear and do away with investor's concerns over the matter of government's intrusion in Air India operations. A senior official reported that center is keen on beginning discussions with LIC and other insurance companies in selling out its residual stake of Air India after employee stock ownership plans (ESOPs) are given out to permanent employees. Many state-owned ins...
TATA Group is Looking To Acquire Air India
BUSINESS

TATA Group is Looking To Acquire Air India

Tata group is believed to be discussing buying a stake in debt-laden Air India amid the government looking at various options, including full or partial privatisation, to revive the national carrier, sources said. When contacted, a Tata group spokesperson said, "We dont comment on speculations." Tata's already have two airline joint ventures Vistara and AirAsia India. Staying afloat on taxpayers money, Air India has been in the red for long and various proposals, including government think-tank Niti Aayog suggestion for complete privatisation, have been made. Sources said Tata group is evaluating options on buying stake in Air India. In this regard, there have been internal meetings as well as meetings with government representatives, sources added. There was no official word f...