New Delhi: At a time when the government is seeking to put up Air India for disinvestment, Tata Sons may not put in a bid for acquiring the airline. According to reports, sources have said that Tata Sons does not see Air India adding value to its airline portfolio.
However, Tata Sons could still be interested in some key slots of Air India at major airports, said a report published in The Hindu.
Tata Sons may focus on Vistara
Tata Sons holds around 51 percent stake in Vistara Airlines. The rest is with Singapore Airlines. Sources said that Tata Sons is focussed on improving Vistara’s growth prospects. It is looking to add new direct flights to the US and Europe and is also eyeing Jet Airways’ flying permit to the profitable London route.
Currently, Air Asia India, which posted its first profit in the first quarter of the ongoing financial year, poses a concern for Tata Sons’ Vistara as the latter has seen its growth slowing down. Litigations have also delayed the launch of its international operations.
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The government was forced to abort a plan to disinvest the ailing airline, Air India, in May last year after it failed to attract bidders. It was then decided that the Centre will infuse more funds into the national carrier and cut down debt by raising resources by selling land assets and other subsidiaries.