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

Tata Group Chairman N Chandrasekaran officially expresses interest in buying Air India

Tata Sons CEO, N Chandrasekaran has officially remarked about the sale of the national carrier - Air India and Tata Group's interest in buying it.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Tata Group Chairman N Chandrasekaran officially expresses interest in buying Air India
Seventeen years ago the group was also considering buying the airline back from the government. Image Source: IANS
Written By: ZeeBiz WebTeam
Updated: Tue, Oct 10, 2017
10:37 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
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
Air India divestment: Tata, Spicejet, Essar among bidders in race to buy national carrier Air India divestment: Tata, Spicejet, Essar among bidders in race to buy national carrier

Key Highlights
  • N Chandrasekaran was speaking in an interview when he remarked about the sale of Air India.
  • The group is awaiting more details from the government on the disinvestment process.
  • Seventeen years ago the group was also considering buying the airline back from the government.

N Chandrasekaran, Tata Sons Executive Chairman has officially remarked on the Tata Group interested in the disinvestment of Air India. The news which broke four months ago that Tatas may be looking to pilot Air India again was confirmed as the chairman said in an interview with CNBC-TV18 on Monday.

However, the group is awaiting more details from the government on the disinvestment process.

“We still don’t have all the details. Every business proposal will be very seriously looked at and we will look at that (Air India). Definitely. But currently we don’t have the data. There are so many different groups within Air India and then there is real estate, there is debt, there is liabilities and we got to look at all of that it but we will definitely look at it,” Chandrasekaran said.

He also spoke in reference to Vistara airlines run in alliance with Singapore Airline stating, the group could not remain with a “fleet of just over a dozen planes.” The Tata Group also owns AirAsia India.

“We need to look at aviation as a whole. We are subscale. We got two airlines both are subscale. Any decision that we take—Air India or otherwise—we have to have a story because we can’t be operating with 15 aircraft or 20 aircraft. I feel scale is important, in every industry in every group we operate in scale is important. Without scale you get to a situation where you are all over the place and it is very, very difficult to pay management attention," he added.

However the group has looked into the sale of Air India before as well.

In November, 2000, a Tata Sons press release said, "Singapore Airlines is a global player with impeccable credentials ... Its airline operating competency will be a significant asset to the consortium and will be critical in ensuring the success of Air India in the international market place."

Air India is currently reeling under a Rs 55,000 crore debt. As recently as August, the government had infused funds amounting to Rs 927 crore in the national carrier. The airline has been facing a cash crunch and its employees have reportedly suffered due to delayed salaries.

The aviation ministry has also expressed concerns over privatisation proposals stating the plan for revival of Air India would be taken up by the cabinet only after various issues, including the concerns raised by the parent ministry, are resolved.

The privatisation process was speculated to begin as early as December 2017.

Also Read: Mega losses apart, six charts that show true picture of Air India as against other Indian airlines

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 IndiaTata GroupN Chandrasekaranair india privatisationAviation
RELATED NEWS
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
Air India divestment: Tata, Spicejet, Essar among bidders in race to buy national carrier Air India divestment: Tata, Spicejet, Essar among bidders in race to buy national carrier

LATEST NEWS

Android 12 may bring double tap on back gesture support

Stove Kraft Limited IPO II Details highlighted by Axis Capital

Republic Day Parade 2021: When and where to watch live telecast of R-Day Parade - timing to traffic routes, all details here

PUBG Mobile India launch: Important notification issued by govt | Check reason for BIG Trouble here

How actor Matthew McConaughey got over rom-com image trap

The Kapil Sharma Show set to go off air? Reasons REVEALED? Check report

FAU-G Game Launch date: Good news! Release tomorrow, beats PUBG Mobile India

SBI Green Pin – Know how to generate through ATM debit card via smartphone OTP in SIMPLE steps

NEET, IIT JEE, NDA, CDS, UPSC exams: Free coaching for students, Abhyudaya scheme, announced by Yogi Adityanath-led UP government

Stock Market Holidays 2021 India: Trading to remain suspended on Sensex, Nifty, others Tomorrow for Republic Day 2021

  • 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