New Delhi: The deal between Tata Sons Limited and the government, which is at the forefront of buying government airline Air India, may be completed soon. Sources have revealed that Tata will file its bid before the end of this month. The central government wants to sell debt-ridden Air India. The airline's annual profit fell after it merged with state-run Indian Airlines in 2007.
A large number of Air India employees are going to retire in the coming years. In such a situation, the ownership of the company is a sensitive issue for the employees. They want the ownership to go to anyone, but the government should take care of matters related to pension. Air India was started by the Tata Group in the year 1932. Later in 1953, it was sold to the government. Now once again, the Tata group wants to make Air India their own. The government hopes that the disinvestment of Air India will be completed by the second quarter of the next financial year.
At this time Air India has a debt of over 90000 crores. It is estimated that Air India will report a loss of Rs 10,000 crore in the current financial year. The Tata group is setting up its bid for Air India through Air Asia India. The Tata group has a controlling stake in Air Asia India. At the same time, Ajay Singh has made a plan to buy Air India in association with the Sovereign Fund of the Middle East.
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