LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Singapore Airlines says options open on Air India disinvestment

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Singapore Airlines says options open on Air India disinvestment
Singapore Airlines (India) General Manager David Lim at the launch of A350 services in India; in Mumbai. Image Source: IANS
Written By: PTI
Updated: Thu, Jan 11, 2018
08:30 am
PTI
RELATED NEWS
BPCL, CONCOR, SCI, LIC IPO: PM Modi to chair special disinvestment meeting, Anil Singhvi reveals top things on agenda   BPCL, CONCOR, SCI, LIC IPO: PM Modi to chair special disinvestment meeting, Anil Singhvi reveals top things on agenda
Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational
16,000 kilometres, 17 hours! HISTORY CREATED - Air India all-women crew lands in Bengaluru after guiding longest flight over North Pole from San Francisco 16,000 kilometres, 17 hours! HISTORY CREATED - Air India all-women crew lands in Bengaluru after guiding longest flight over North Pole from San Francisco
Creating History! All-women Air India cockpit crew to fly inaugural San Francisco-Bengaluru flight: Civil Aviation Minister Hardeep Singh Puri Creating History! All-women Air India cockpit crew to fly inaugural San Francisco-Bengaluru flight: Civil Aviation Minister Hardeep Singh Puri
Air India Privatisaton News: Check latest update on divestment process, stake sale Air India Privatisaton News: Check latest update on divestment process, stake sale

Singapore Airlines today said it will keep options open on Air India stake after the government allowed foreign carriers to own up to 49 per cent in the national carrier.

"Our priority is the further expansion of Vistara. However, we will keep our options open with respect to the proposed disinvestment of Air India," Singapore Airlines said in an e-mailed statement to PTI.

The response was for queries related to the government permitting foreign airlines to have up to 49 per cent stake in Air India and whether Singapore Airlines would bid for the carrier.

Singapore Airlines owns 49 per cent stake in full service carrier Vistara, while the remaining shareholding is with the Tatas.

Besides, the Singapore Airlines group has significant number of flights connecting various Indian cities.

Now, foreign airlines have been allowed to have up to 49 per cent stake under the approval route in Air India subject to certain conditions, an official release said.

Foreign airlines were allowed to invest under government approval route in the capital of Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49 per cent of their paid-up capital in 2012.

The provision was however not applicable to Air India.

"It has now been decided to do away with this restriction and allow foreign airlines to invest up to 49 per cent under approval route in Air India...," the release said.

Foreign investments in Air India, including that of overseas airlines, should not exceed 49 per cent either directly or indirectly.

"Substantial ownership and effective control of Air India shall continue to be vested in Indian national," the release said.

While there have been reports suggesting that Tatas and Singapore Airlines might jointly bid for Air India, there has been no official word from the government or the carriers concerned.

Last week, Vistara CEO Leslie Thng said that Tata Sons and Singapore Airlines have an "open mind" on the issue of disinvestment of Air India and will evaluate if there was a business case for them.

The government is in the process of finalising the modalities for strategic disinvestment of debt-laden Air India.

On whether it would be interested in Air India disinvestment, Emirates said it has no plans to buy or acquire any airline.

"We continue to focus on our organic growth and will partner with other airlines where it benefits our customers and makes commercial sense," Emirates said in a statement. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Air IndiaSingapore AirlinesAIAir India disinvestmentprivatisationAviation
RELATED NEWS
BPCL, CONCOR, SCI, LIC IPO: PM Modi to chair special disinvestment meeting, Anil Singhvi reveals top things on agenda   BPCL, CONCOR, SCI, LIC IPO: PM Modi to chair special disinvestment meeting, Anil Singhvi reveals top things on agenda
Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational
16,000 kilometres, 17 hours! HISTORY CREATED - Air India all-women crew lands in Bengaluru after guiding longest flight over North Pole from San Francisco 16,000 kilometres, 17 hours! HISTORY CREATED - Air India all-women crew lands in Bengaluru after guiding longest flight over North Pole from San Francisco
Creating History! All-women Air India cockpit crew to fly inaugural San Francisco-Bengaluru flight: Civil Aviation Minister Hardeep Singh Puri Creating History! All-women Air India cockpit crew to fly inaugural San Francisco-Bengaluru flight: Civil Aviation Minister Hardeep Singh Puri
Air India Privatisaton News: Check latest update on divestment process, stake sale Air India Privatisaton News: Check latest update on divestment process, stake sale

LATEST NEWS

LIC Policy: Big opportunity - check rebate in late fee charges, terms and conditions, deadline to revive lapsed life insurance policy

Delhi MCD Election 2021 Results LIVE Updates: AAP leading in four wards, Congress in one

Heranba IPO Allotment Status: Finalised! Didn't get shares? Waiting for refund? Know this important date

Mid-cap Picks with Anil Singhvi: Want big gains? 3 stocks to buy - Aarti Drugs, IRB Infra and Dalmia Bharat Sugar

MTAR Technologies IPO – Angel Broking recommends SUBSCRIBE to this public issue; last date 5th March, 2021

Latest Weather Report Today: Mainly dry weather likely in Jammu and Kashmir, Ladakh

NEET 2021 exam date latest news: Candidates check this big update

SBI account holder? Don't do this, or you will lose money; Bank issues WARNING - check 3 top tips

Heranba Industries IPO allotment status finalised; Trading in equity shares will commence on March 5

Yes Bank Share price I Anand Rathi maintains Sell rating with price target of Rs 14

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved