Economy

Tatas Better Candidate If Air India Is Privatised, Says Sunil Mittal

Tatas Better Candidate If Air India Is Privatised, Says Sunil Mittal

The news need not come as a surprise, so to speak, since there were rumours of Tata Sons chairman N Chandrasekaran holding talks with the government a few days in this regard. Tata Group itself, despite the debt pile worry, sees value in the 14% market share the airline commands in the domestic market.

If the Tatas were to buy the national carrier, this will be second time the group would be owning the airline.

On Wednesday, a TV news channel report said that Tata Group, in partnership with Singapore Airlines, could be looking at buying the carrier. The Tatas are the original promoters of Air India. Subsequently, the Vajpayee-led NDA government called off the divestment move. On the same day, Civil Aviation Minister Ashok Gajapathi Raju also held a meeting with Mr. Jaitley on a plan to sell Air India's prime properties across the country.

ITBP jawans celebrate International Yoga Day in
But that didn't deter Pakistan from joining in on the third edition of the yoga day. I am glad to see several Yoga institutes take shape over the last three years.

The Tata group and Singapore Airlines launched Vistara in 2015. As per reports, the Tatas had shown keen interest in Air India almost 16 years ago when the government had chose to do away with 40% stake in the airlines. Nearly a decade later, Ratan Tata was named the chairman of Air India. There was no official word from the government but sources said the Civil Aviation Ministry is keen on retaining the national carrier status of Air India.

After Independence, the government bought a 49-per cent stake in Air India in 1948, and nationalised the carrier in 1953.

While Air India has a 105-strong fleet strength and deep worldwide networks, it comes with aircraft-related debt of ₹20,000 crore and another ₹32,000 crore of working capital debt.

Mexico overcome NZ in fiery Confed clash
New Zealand played on, went down the other end and almost scored, with the Mexicans urging their opponents to stop the game. We're not just going there to play against Portugal and Ronaldo, we're going there to get a result ".

According to Sinha, inter-ministerial consultations on the future of the airline have been completed and "are being summarised and presented" to the Union cabinet. This is something thoroughly lacking in the portfolio of Tata Group's existing airlines, each of which needs to ramp up its fleet to at least 20 aircraft before they can start flying overseas. J R D Tata began the first air mail service by an Indian company - operating a flight between Karachi and Mumbai in October 1932.

Sources said in such a situation, the government would have majority stake but operational control would be with the minority stakeholder.

NBA Draft 2017 Analysis: Top ten
So Minnesota chose to drafted Lauri Markkanen from the Arizona Wildcats and send him with Kris Dunn for superstar Jimmy Butler . Expect to see a lot of Ntilikina out there to run the show if Rose's injury prone ways continues to keep him sidelined.


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