Vistara considering bid for Air India, Chairman says

Tuesday, 3 March 2020 00:00 - - {{hitsCtrl.values.hits}}

NEW DELHI (Reuters): Vistara, a joint venture between India’s Tata Group and Singapore Airlines, is considering a bid for the Government’s stake in State-run carrier Air India, Vistara’s Chairman said yesterday, according to local media reports.

“Which company would not be interested in evaluating a sovereign airline of the country?” Vistara Chairman Bhaskar Bhat asked, according to a report by Business Insider, quoting the Press Trust of India.

Bhat, however, said no final decision had been made on whether it would submit a bid, the report said.

Bhat was speaking at the unveiling of Vistara’s first Boeing 787-9 Dreamliner plane at Delhi airport.

Prime Minister Narendra Modi’s Government in January said it planned to sell its entire interest in Air India, making a renewed push to sell the flag carrier after it drew no bids in an auction of a majority stake almost two years ago.

The Government has set 17 March as the deadline for submission of initial expressions of interest, and said that any bidder must assume liabilities, including debt of Rs. 232.87 billion ($ 3.20 billion).