Discover and read the best of Twitter Threads about #airindiadisinvestment
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#DelhiHighCourt is set to hear a plea filed by BJP Rajya Sabha MP @Swamy39 challenging Air India disinvestment. 
@Swamy39 appearing in person before the Court. Solicitor General Tushar Mehta appearing for Centre.
Bench is yet to assemble.
#AirIndiaDisinvestment
Bench is yet to assemble.
#AirIndiaDisinvestment
Chief Justice DN Patel and Justice Jyoti Singh appear. Matter starts.
Swamy making his submissions.
Swamy making his submissions.
A brief history of #AirIndia
1) #JRDTata creates a airline that has 30% market share & had one of the highest best in class reputation globally
2) #Nehru derails it by nationalisation
3) #Morarji kicks out JRD Tata & sending it diving down
4) #RajivGandhi thinks #RatanTata will
1) #JRDTata creates a airline that has 30% market share & had one of the highest best in class reputation globally
2) #Nehru derails it by nationalisation
3) #Morarji kicks out JRD Tata & sending it diving down
4) #RajivGandhi thinks #RatanTata will
avoid crash landing & makes him chairman. Later #AnandMahindra is made chairman. Nothing helps becoz both have no control
5) #UPA/#SoniaGandhi/#PrafulPatel/#MMS decide crash landing inevitable & they encash on it by spending 11 billion $.
6) To soften crash landing they further
5) #UPA/#SoniaGandhi/#PrafulPatel/#MMS decide crash landing inevitable & they encash on it by spending 11 billion $.
6) To soften crash landing they further
merge it with #Indianairlines & #AirIndiaexpress so more employees can share the pain of the crash
7) Airline approaches crash point & #NarendraModi looks for a new pilot without success
8) Modi govt finally bites bullet, jumps out without parachute thus reducing the excess load
7) Airline approaches crash point & #NarendraModi looks for a new pilot without success
8) Modi govt finally bites bullet, jumps out without parachute thus reducing the excess load
It seems tax-payers will continue to be responsible for bulk of #AirIndia debt even after #privatisation. AI had total debt of around Rs 62,300 cr FY20-end of which only Rs 15,300 cr is being taken over by Tatas. Rest will be the liability of us #taxpayers.
#airindiadisinvestment
#airindiadisinvestment
So in effect Tata Sons is getting aircrafts worth Rs around Rs 32,000 crore for Rs 18,000 crore. This is over and above landing & parking slots and the #AirIndia brand. This must be one of the best deal for Tata Sons ever.
#airindiadisinvestment
#airindiadisinvestment
Less than 2% of #AirIndia net losses in last 10-years were from operations. Rest were due to interest on debt and depreciation for its aircrafts. Ex these, Air India was profitable in FY20 and reported cumulative operating loss of only Rs 917 cr since FY11
#airindiadisinvestment
#airindiadisinvestment
Government approves the winning bid of M/s Tata Sonsโ SPV (M/s Talace Pvt Ltd) for @airindiain disinvestment at an enterprise value of โน18000 crore
The bid by the consortium led by Ajay Singh was โน15,100 crore - @SecyDIPAM
#AirIndia
The bid by the consortium led by Ajay Singh was โน15,100 crore - @SecyDIPAM
#AirIndia
Non-core assets including land and buildings with book value of โน14,718 crore will not be given to the acquirer but will be transferred to GoI's @airindiain Assets Holding Limited (AIAHL) - @SecyDIPAM
#AirIndia
#AirIndia
M/s Talace Pvt Ltd emerged as the successful bidder for the sale of equity shareholding of Government of India in @airindiain and AI's shareholding in AIXL and AISATS along with management control - @SecyDIPAM
#AirIndia
#AirIndia
Air India sale to Tata Group Confirmed.
Government support to Air India has been Rs. 1,10,276 crore since 2009.
Government support to Air India has been Rs. 1,10,276 crore since 2009.
Transaction does not include land and building. Land and Building is being transferred to Government. Tata won the bid at 18,000 crore.
Talace Private Limited has won the bid, which is the subsidiary of Tata Sons @TataCompanies @RNTata2000 #airindiadisinvestment #Tatasons
Talace Private Limited has won the bid, which is the subsidiary of Tata Sons @TataCompanies @RNTata2000 #airindiadisinvestment #Tatasons
Transaction of Air India - Tata deal close by December 2021 - @SecyDIPAM
