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NEW DELHI: Air India divestment has entered its final lap with the transaction advisor Ernst & Younger, together with RBSA Advisors making a presentation on the valuation of the Maharaja to the federal government on Tuesday. Division of funding and public asset administration (Dipam) brass is learnt to have met each the certified bidders — Tata Group and SpiceJet promoter Ajay Singh-led consortia — on Wednesday.
By the way, October 15 is a crucial date in AI historical past. It was on this date in 1932 that J R D Tata piloted the first-ever flight of Tata Air Providers from Karachi’s Drigh Street Aerodrome to Mumbai’s Juhu Airstrip through Ahmedabad on a single-engine De Havilland Puss Moth carrying 25 kg of 4-anna airmail letters. The announcement might be timed across the 89th anniversary of Tata Aviation Service, the forerunner to Tata Airways and Air India.
“AI divestment is at a complicated stage and the final lap. An announcement might be made very shortly. Promoting AI off might be strongest sign from the federal government that it steadfastly dedicated to the divestment programme and the lately introduced asset monetisation programme,” mentioned a high authorities functionary, who didn’t wish to be named.
Whereas the state is eager on the winner — most certainly to be the Tatas — taking up AI by the year-end, sources say the method might take as much as the top of this fiscal. The aviation ministry has requested AI to finalise its half yearly accounts on the earliest.
By the way, October 15 is a crucial date in AI historical past. It was on this date in 1932 that J R D Tata piloted the first-ever flight of Tata Air Providers from Karachi’s Drigh Street Aerodrome to Mumbai’s Juhu Airstrip through Ahmedabad on a single-engine De Havilland Puss Moth carrying 25 kg of 4-anna airmail letters. The announcement might be timed across the 89th anniversary of Tata Aviation Service, the forerunner to Tata Airways and Air India.
“AI divestment is at a complicated stage and the final lap. An announcement might be made very shortly. Promoting AI off might be strongest sign from the federal government that it steadfastly dedicated to the divestment programme and the lately introduced asset monetisation programme,” mentioned a high authorities functionary, who didn’t wish to be named.
Whereas the state is eager on the winner — most certainly to be the Tatas — taking up AI by the year-end, sources say the method might take as much as the top of this fiscal. The aviation ministry has requested AI to finalise its half yearly accounts on the earliest.
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