SpiceJet Chairman Ajay Singh has joined hands with Ras Al Khaimah Investment Authority and Ankur Bhatia, promoter of Delhi-based Bird Group to bid for 100 percent of national carrier Air India.
Singh and Bhatia have expressed interest in the debt-laden airline in their personal capacity, The Economic Times reported.
“They are likely to together hold a majority stake in Air India, if they get the airline,” a person aware of the development told the publication.
Ras Al Khaimah Investment Authority’s India office, Singh and Bhatia had not responded when contacted by the newspaper.
The publication had in February reported that Singh, along with two other investors, had expressed keen interest in Air India.
Earlier in March, Moneycontrol had reported that the Tata Group was being seen as the favourite to buy the flag carrier, after the Air India employee consortium did not make it to the next round of the divestment process.
This is the government’s second attempt at privatising Air India, after the first bid failed in 2018. Back then, Singh had ruled SpiceJet out of the race for buying Air India saying, “we are too small to bid for a large airline like the national carrier.”
(Source: Money Control)