Singapore Airlines to investment Rs 3,194.5 crore in Air India post-merger of Vistara
Singapore Airlines is set to make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November.
National carrier Air India would now become a ‘majestic Maharaja’ from the ‘beggar’ it had become during the UPA regime, Union minister Jayant Sinha said here on Thursday.
In a strategic disinvestment process, the government yesterday unveiled plans to sell up to 76 per cent stake in debt-laden Air India and transfer its management control to private players.
“During the UPA regime the Maharaja became a beggar.
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We will make Air India a majestic Maharaja,” the Union minister of state for civil aviation told a press conference.
To a query, Sinha said the top bidder would be given 76 per cent share.
As per the information memorandum released on the website last evening, the management control of Air India would be given to the top bidder, he said adding that Air India would be kept independent.
The employees of the Air India would be made participants and their future would be better, he said.
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