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  Business   Companies  30 Nov 2017  SpiceJet, Jet Airways join the race for Air India disinvestment

SpiceJet, Jet Airways join the race for Air India disinvestment

THE ASIAN AGE.
Published : Nov 30, 2017, 4:28 pm IST
Updated : Nov 30, 2017, 4:28 pm IST

A top Jet Airways executive acknowledged that the company was eyeing the debt-reeling national airline.

Air India seems to have found two more takers as SpiceJet and Jet Airways boarded the flight to bid for the debt-reeling airline. (File Photo)
 Air India seems to have found two more takers as SpiceJet and Jet Airways boarded the flight to bid for the debt-reeling airline. (File Photo)

Mumbai: Air India seems to have found two more takers as SpiceJet and Jet Airways boarded the flight to bid for the debt-reeling airline.

This comes after IndiGo and Tata Group expressed their interests in the national airline.

 

"The economics of the game will change completely for whichever airline gets Air India. With its 14 per cent domestic and 17-18 per cent international market share, getting AI will be a paradigm shift for the successful bidder. Other airlines like Jet and possibly even SpiceJet will have no option but to bid for AI," a top government official familiar with the process told TOI.

However, a SpiceJet is "too small" to bid for the national airline, said an official of the company. Decision will be taken on the bidding once the terms are known, the official added.

A top Jet Airways executive acknowledged that the company was eyeing the debt-reeling national airline.

 

In July this year, IndiGo was the first to express interest in Air India after the government gave in-principle approval for its disinvestment. IndiGo had openly expressed interest in buying the ailing Air India’s international routes and the Air India Express arm.

The Tata Group, which currently jointly owns Vistara along with Singapore Airlines and Air Asia along with Malaysia Airlines, has also been reportedly eyeing the Maharaja.

Air India is currently reeling under a debt of over Rs 52,000 crore.

Tags: air india, spicejet, air india disinvestment, jet airways
Location: India, Maharashtra, Mumbai (Bombay)