Is Jet Airways back in race for Air India? Here’s Naresh Goyal’s take

By: |
Published: May 19, 2018 1:32:21 PM

Air India stake sale: While many Indian airlines have ruled themselves out of the race for picking up a stake in India’s national airline Air India, Jet Airways chairman Naresh Goyal has Air India on his radar.

?We are looking at our own business. But I am not saying that we will not look at Air India, I’ve never said that,? Naresh Goyal said.

Air India stake sale: While many Indian airlines have ruled themselves out of the race for picking up a stake in India’s national airline Air India, Jet Airways chairman Naresh Goyal has Air India on his radar, according to a Bloomberg report. “We are looking at our own business. But I am not saying that we will not look at Air India, I’ve never said that. Ultimately we will always see what is the best approach ahead of us, and for the country,” Bloomberg reported Naresh Goyal as saying.

Notably, Naresh Goyal’s comments come even as other major airlines IndiGo and Spicejet have ruled themselves out of the race. Aditya Ghosh of IndiGo said in a recent statement that IndiGo may not have the capability to take on the task of acquiring and successfully turning around all of Air India’s airline operations. Notably, a recent PTI report  had quoted Jet Airways deputy chief executive officer Amit Agarwal saying that Jet Airways will not be participating in the bidding process, considering the terms of offer in the information memorandum and based on its review.

Notably, Naresh Goyal also said that the plan to privatize Air India is “a brave and very good decision” for India, predicting that the process will ultimately prove successful, Bloomberg reported. The government has extended the deadline to receive initial bids for its stake in state-run carrier Air India to May 31 from May 14, and also said that it will retain 24% stake in the carrier as a minority investor.  The Ministry of Civil Aviation has put out its responses to queries received on Air India disinvestment relating to the government holding a 24% stake in the debt-laden carrier.

“There is a great deal of interest for Air India,” Civil Aviation Secretary R N Choubey told PTI last week, speaking on the sidelines of the US-India Aviation Summit. Choubey also said that no American carrier has expressed formal interest for Air India. The divestment would include profit-making Air India Express and joint venture AISATS, an equal joint venture between the national carrier and Singapore-based SATS Ltd. The qualified bidders would now be known on June 15, whereas the earlier date was May 29.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition