NEW DELHI (Reuters) - India's salt-to-software Tata conglomerate has shown an interest in buying a majority stake in state-run carrier Air India Ltd, television channel ET Now reported on Wednesday, citing unnamed sources.
Prime Minister Narendra Modi's administration has been exploring ways to privatise the loss-making national carrier, which was bailed out in 2012 with $5.8 billion of central funding.
However, privatising the airline is expected to be difficult unless the government writes off at least part of the debts.
The television channel said that Natarajan Chandrasekaran, chairman of Tata group's holding company Tata Sons, was in touch with the top leadership in the government about a deal.
An official at the Civil Aviation Ministry declined to comment on Tata's interest, saying any development on the carrier would be "intimated soon".
Tata had no comment. "We do not comment on such matters," a spokesperson at Tata Group said in an emailed statement.
(Reporting by Rajesh Kumar Singh and Aditi Shah; Editing by Edmund Blair)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app