Vistara evaluating Air India bid: Chairman

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Vistara Chairman Bhaskar Bhat on Monday said the airline is evaluating Air India and would decide later whether it might bid or not for the national carrier’s disinvestment.

“We are evaluating Air India. Which company wouldn’t have an interest in evaluating a sovereign airline of the country? Whether we bid or not comes later,” he said.

“On being asked if Vistara or Tata Sons were evaluating Air India, Bhat replied, “We (Vistara) are a joint venture,” PTI reported.

The government started the process of Air India disinvestment on January 27 by releasing an information document for investors and offering access to financial and other data of the companies on the block.

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The government’s entire stake in Air India, its 100% stake in low-cost subsidiary Air India Express Ltd. and 50% stake in ground handling unit Air India SATS Airport Services Private Ltd. are on offer.

Privatization of Air India and stake sale in its subsidiaries for which bids are invited is set to spill over to FY21 with the govt giving longer to investors for clearing doubts on the terms of sale.

The Ministry of Civil Aviation (MoCA) had extended the due date for investors to seek clarifications on the terms of sale up to midnight of 6 March, from the earlier deadline of 11 February, as per a change notified by the Ministry on the information document given to investors.

(Source: PTI)

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