How much will it cost to buy Air India?
Tata Sons’ fiscal cost for acquiring Air India will be ₹2,700 crore, 15% of the national carrier’s enterprise value of ₹18,000 crore. It will take over ₹15,300 crore debt of the beleaguered airline. The government is expected to write off around ₹28,000 crore as sovereign debt.
Who is purchasing Air India?
The government on Monday signed a share purchase agreement with Tata Sons for sale of national carrier Air India for ₹18,000 crore.
Is Air India sold to Tata?
India’s national carrier, Air India, has been officially handed over to the Tata Group, which bought the debt-ridden airline in October last year. The Tatas paid nearly $2.4bn (£1.7bn) after the government made the terms of the debt less onerous for the buyer.
Who is owner of Indigo?
It has its primary hub at IGI Airport, Delhi. The airline was founded as a private company by Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal in 2006.
|IATA ICAO Callsign 6E IGO IFLY|
|Key people||M. Damodaran (Chairman) Rono Dutta (CEO) Wolfgang Prock-Schauer (COO)|
|Founders||Rahul Bhatia Rakesh Gangwal|
Who will pay Air India debt?
Tata Group was in October last year announced as the winning bidder for Air India with a bid amount of Rs 18,000 crore. Tatas have paid Rs 2,700 crore cash and taken over Rs 15,300 crore of the airline’s debt. The deal also includes sale of Air India Express and ground handling arm AISATS.
Does Tata have airline?
Tata SIA Airlines, a joint venture between Tata Sons and Singapore Airlines, operates under the flagship brand name Vistara, an Indian domestic full service airline.