Vistara evaluating Air India bid: Chairman Bhaskar Bhat
By MYBRANDBOOK
Vistara Chairman Bhaskar Bhat said the airlines is evaluating Air India and would decide later whether it would bid or not for the national carrier's disinvestment.
"We are evaluating Air India. Which company would not be interested in evaluating a sovereign airline of the country? The question, whether we bid or not comes later," Vistara Chairman Bhaskar Bhat said
According to a report, on being asked if Vistara or Tata Sons were evaluating Air India, Bhat replied, “We (Vistara) are a joint venture”.
The government started the process of Air India disinvestment on 27 January by releasing an information document for investors and offering access to financial and other data of the companies on the block.
The government’s entire stake in Air India, its 100% stake in low-cost subsidiary Air India Express and 50% stake in ground handling unit Air India SATS Airport Services are on offer.
Privatisation of Air India and stake sale in its subsidiaries for which bids have been invited, is set to spill over to FY21 with the government giving more time to investors for clearing doubts on the terms of sale.
The ministry of civil aviation had extended the due date for investors to seek clarifications on the terms of sale up to midnight on 6 March, from the earlier deadline of 11 February, as per a change notified by the ministry on the information document given to investors.
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