Big news – Tata bids to buy government aviation company Air India

The process of selling the state-owned airline company Air India, buried under huge debt, is going on. According to information received from sources, Tata has bid for Air India. Let us tell you that Aviation Minister Jyotiraditya Scindia had clarified that the last date of 15 September will not be changed. The government was earlier preparing to sell 76 percent stake in Air India in 2018, but at that time no buyer was found for it and then the exercise of selling it completely was started. Air India has a total debt of Rs 43 thousand crores. Out of this, 22 thousand crore rupees will be transferred to Air India Asset Holding Limited.

Tata bids for Air India

If sources are to be believed, Air India has a total debt of Rs 43 thousand crore and this entire loan is on government guarantee. If Tata wins the bid, it will get ownership rights in Air India. The government will bear this debt before giving the ownership of the airlines to the new company.

What is the government’s plan regarding Air India?

The central government is working on a plan to sell 100 percent stake in Air India and its subsidiary Air India Express. Along with this, there is also a plan of 50 percent disinvestment in ground handling company Air India Sats Airport Services Private Limited. There are also plans to sell Air India Building in Mumbai and Airlines House in Delhi.

If not sold then Air India will be closed!

In response to a question in Parliament, the government had told that if Air India is not privatized, it will have to be closed. Where will the funds for its operations come from? At present Air India is a first class asset. In such a situation, it will be easily available to buyers. On the other hand, the employees union of Air India is opposing the disinvestment proposal of the company. Employees are afraid of losing their jobs.