Etihad Airways To Bid For Air India, Sends Proposal To Anil Ambani's ADAG

| April 13 , 2018 , 17:48 IST

Etihad Airways, the UAE's second-largest airline, is reportedly interested in bidding for the Air India group after Government gave nod for its privatisation and is looking for partners in major Indian corporate groups and has sent a proposal to Anil Ambani owned Reliance group (ADAG).

Reports stated that Etihad is scouting for partners to form a consortium to bid for Air India and is in discussion with companies, including the Anil Ambani group.

The reports further said that talks are unlikely to translate into a partnership. However, Etihad Airways feelers to an Indian company indicates there exists considerable foreign interest in the troubled national carrier. A buyer has to take on a debt of around Rs 33,000 crore.

ALSO READ: Foreign Carriers British Airways, Lufthansa and Singapore Airlines In A Row To Bid For Air India

Previously reports claimed that some major international airlines have expressed their interest in acquiring Air India. Major international airlines British Airways, Lufthansa, Singapore Airlines are considering the disinvestment proposal and are in active consultation with the government. 

Reports stated that the Tata Group, who was supposedly keen on buying Air India and was awaiting detailed memorandum, may not bid for the national carrier as the terms are not workable. Other airlines like Indigo and Jet Airways too had dropped out of the race citing unfavourable circumstances. 

The government has invited expressions of interest to off-load a 76 percent stake in the airline