The Tatas appear to be moving closer to a decision to bid for Air India (AI) in partnership with Singapore Airlines and have already started working on the structure for such an acquisition, according to a media report.
This includes a merger of AirAsia India, in which Tatas hold 51 per cent and Air India Express, a wholly-owned subsidiary of the government-owned national carrier.
The Tata Group is reliably learned to have approached Tony Fernandes, the Malaysian entrepreneur who holds 49 per cent in AirAsia India, for his approval to acquire AI Express, the report said.
On October 11, 2019, BusinessLine had reported Tatas, the salt-to-software conglomerate, is readying to bid for Air India, India’s flag carrier, and is believed to have started initial discussions internally for placing an offer.