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After IndiGo, Jet, now Tata may not bid for Air India citing onerous terms

A lack of interest from Tata is likely to put pressure on govt to rethink its terms or even the structure of the sale

Reuters  |  New Delhi/Mumbai 

The Tata Group, widely seen as a potential suitor for Air India, is unlikely to consider a bid for the carrier as the government’s terms are just too onerous, two sources said. India, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a  76 per cent stake and offload about $5.1 billion of its debt. But the Centre has stipulated the winning bidder cannot merge the airline with existing businesses as long as the government holds a stake. The winner may also be required to list Air India and would need to abide by the conditions ...

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First Published: Thu, April 12 2018. 00:22 IST