The salt-to-steel conglomerate is focusing on Vistara's growth prospects.
Tata Sons may not put in a bid for Air India, according to a report in The Hindu BusinessLine. The report said that the salt-to-steel conglomerate doesn't see Air India adding value to its airline portfolio.
While Air India struggles to service its hefty debts, sources to the daily feel there is no clarity on the carrier’s liabilities and a high number of employees employed per aircraft adds to the cost. Tata Sons might be interested in some of the key slots of the airline at major airports nonetheless.
The group holds around 51 percent stake in Vistara while the rest lies with Singapore Airlines. Sources told the daily that Tata Sons is focusing on Vistara's growth prospects. It also expects to see new direct flights to the US and Europe and is eyeing Jet's flying permit to the profitable London route.
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .