SpiceJet Promoter Ajay Singh-Led Consortium Set To Bid For Acquiring Govt’s 100 Per Cent Stake In Air India

In a boost for Government’s push to privatise Air India, SpiceJet promoter Ajay Singh has joined forces with the promoter of Delhi-based Bird Group Ankur Bhatia and United Arab Emirates (UAE) based Ras Al Khaimah Investment Authority to bid for the airline, reports Economic Times.

Singh and Bhatia are said to have placed their bid in a personal capacity, and will together hold a majority stake in the airline if they win the asset.

The consortium led by Singh had submitted its Expression of Interest (EoI) for Air India in bygone December, following which it was shortlisted as a potential bidder along with Tata Group which is said to be a frontrunner to acquire the airline. Tata Group is likely to place its bid through Air Asia India.

Meanwhile, Kolkata-based businessman Pawan Ruia, through another consortium, and an Air India employee consortium had also submitted EOIs for the national carrier. However, the two were not been shortlisted for the next stage of the privatisation process.

The Government is looking to offload cent per cent of its stake in the airline and its low-cost subsidiary Air India Express. It is also looking to offload a 50 per cent stake in ground-handling unit AISATS.