Centre Ran Transparent, Flexible Process; Honoured To Participate In Air India Bidding: SpiceJet CMD

The authorities ran a clear and versatile course of to promote Air India, and it was an honour and privilege to take part within the nationwide service’s bidding, SpiceJet CMD Ajay Singh mentioned on Friday. 

The authorities introduced on Friday that Tata Sons’ wholly-owned subsidiary Talace Private Limited has overwhelmed the Singh-led consortium to win the bid to accumulate debt-laden Air India by providing Rs 18,000 crore.

“I congratulate the Tata Group on winning the bid for Air India and wish them all the success. It was my honour and privilege to be shortlisted for bidding for Air India,” Singh mentioned in a press release.

Expressing confidence within the Tata Group, he mentioned that it’ll restore the glory of Air India and make all of India proud.

“I would also like to congratulate the government on the successful disinvestment of Air India. They ran a transparent and flexible process and gave new impetus to India’s disinvestment programme,” Singh added.

He mentioned he has been an Air India fan all his life and it’s time for the Maharaja to reclaim its place as a number one airline on this planet.

At a press convention, Secretary to the Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey mentioned Talace Private Limited, which is a wholly-owned subsidiary of Tata Sons, the holding firm of the conglomerate, has emerged as profitable bidder DIPAM is the federal government division liable for privatisation.

The secretary mentioned Tatas’ bid of Rs 18,000 crore contains taking on of 15,300 crore of debt and paying the remainder in money.

The Singh-led consortium’s bid stood at Rs 15,100 crore, comprising taking on debt of Rs 12,835 crore and paying the remainder Rs 2,265 crore in money.


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