Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 06 2018

IndiGo Airlines terminates from acquisition deal with Air India

The Indian government, last week released bid documents seeking to sell a 76 percent stake in domestic and international carrier.

Top Indian carrier Interglobe Aviation Ltd, which operates under the IndiGo brand has opted out of a race to acquire state-run Air India due to unfitting norms set by the government.

The Indian government, last week released bid documents seeking to sell a 76 percent stake in the money-losing flag in domestic and international carrier Air India.

The proposed sale will also include a 100 percent stake in Air India’s low-cost arm – Air India Express, and a 50 percent stake in its ground-handling arm – SATS Airport Services.

IndiGo in a statement said, “From day one, IndiGo has expressed its interest primarily in the acquisition of Air India’s international operations and Air India Express. However, that option is not available under the Government’s current divestiture plans for Air India.”

Aditya Ghosh, the airline’s president, in the statement said, “We do not believe that we have the capability to take on the task of acquiring and successfully turning around all of Air India’s airline operations.”

IndiGo, Indian conglomerate Tata Group, and Turkey’s Celebi Aviation Holdings have expressed an interest in buying some of Air India’s operations. Singapore Airlines has also said the company has an open mind about making an initial bid.

Indian Prime Minister Narendra Modi’s cabinet gave the go-ahead last year to sell Air India after successive governments spent billions of dollars to keep it solvent.

But its debt burden of about $8 billion and a bloated cost structure have been a concern. Previous attempts to offload the airline have been unsuccessful.

Comment
Related opportunities
  • Fashion accessories - women
    About Us: UNISO is the modern shopping destination for modern INDIA. We..
    Locations looking for expansion Karnataka
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Home Furnishings
    About: Ambreh is backed by Aalidhra Techtex Pvt. Ltd. that owns..
    Locations looking for expansion Delhi
    Establishment year 1989
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Juices / Smoothies / Dairy parlors
    About: We are a new-age startup with a vision to make..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Bakery & Confectionary
    About Us:  Established in 2006, Oya kekars is hugely popular pastry..
    Locations looking for expansion Maharashtra
    Establishment year 2006
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities