The car-to-coffee conglomerate, Tata Group’s hopes for partnering up with Singapore Airlines (SIA) shattered when the latter decided against investing in the debt-laden national carrier, Air India.
The Tatas stepped into the bidding process for the national carrier at the eleventh- hour and now looks set on acquiring Air India through its other commercial airline ventures or even by going solo. But the process has proved to be a snag with setting in motion a series of challenges. Even if the conglomerate succeeds in its acquisition, it will have to ensure operational synergies between its airline business post-acquisition, which by the looks of it, will not come easy.
Highlights
Another hurdle for Tata Group’s Air India plan
Centre sweetens deal, receives three EoIs
Tata Group bent on acquiring Air India
Strain between Tata Group and Singapore Airline
The Tata Group’s Air India plan – a sinking ship?
Tata Group and SIA share a joint venture Airline, Vistara and it was through this that the salt-to-steel conglomerate had plans to bid for Air India in the coming month. Although, SIA has given their approval and waived their non-compete clause, Tata Sons, the holding company, is in a puddle as it will now have to go for a solo bid.
Tata Sons could however take another route through its Air Asia India unit which is again a joint venture Airline with Malaysia’s AirAsia Bhd. It has been raising its stake significantly, which is up from 51% to 87%, but there happens to be some legal issues with this approach.
Centre sweetens deal, receives three EoIs
This is the government’s second attempt at disinvesting the debt-stricken national carrier after a frail response in 2018, when not a single bid was received. This time, the government has proposed strategic disinvestment of 100 per cent of its equity share capital in Air India Limited, including Air India’s shareholding interest of 100 per cent in Air India Express and 50 per cent in Air India SATS Airport Services which provides ground handling services.
The government has set a target of ₹ 2.10 lakh crores from disinvestments in this fiscal year through the sale of shares of central public sector enterprises (CPSEs), public sector banks and financial institutions, including the listing of insurance mammoth LIC.
As per the 11th corrigendum issued on 30th December 2020, clause 1.2 of the Preliminary Information Memorandum (PIM) inviting Expressions of Interest (EOI) for the disinvestment of Air India, has been amended. Earlier, this process was to be completed by
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The strategic disinvestment of Air India is a two-step process which includes, first, the submission for ”Expression of Interest” (EoI), which was completed on December 14, and second, the ”Request for Proposal”. So far, the government has received three EoI’s including the Tata Group and plans to carry forward the process of shortlisting bidders by the end of the month.
The government has also reportedly sweetened the deal which earlier required the bidding company to fully cover the airlines accumulated debt of more than 69,000 crores. Now, the bidder gets to decide how much of the debt he wants to take on. But he will have to pay at least 15 per cent of the quoted enterprise value to the government in cash, while the rest can be taken on as debt.
Tata Group bent on acquiring Air India
Tata may reboard the Air India after 67 years in what is dubbed as reunion of sorts after the group had to part ways with Air India shortly after the Independence.
Currently Air India has the third-largest (9.4 per cent) traffic share vis-a-vis domestic market compared to the Tata Group-owned Airlines – Air Asia India and Vistara which stands at fifth (7.1 per cent) and sixth (6.4 per cent) position in terms of market share respectively. Hence, for Tata group the acquisition would mean that the group’s airline business would top at 22.9% in market share, making it the second largest airline group in India, next only to IndiGo, which comfortably sits at 55.5% in market share. Tata hopes to dethrone IndiGo in the future with this acquisition to secure the numero uno position for itself.
Also, the acquisition would have additional perks of control over prime 4,400 domestic and 1,800 international landing and parking slots, as well as 900 slots at airports overseas. The deal would also include trained and experienced staff and its ground handling services at major Indian airports.
With the events unfolding, the way Tata had not anticipated, Tata, if all goes well will be in total control of Air India and also of Air Asia India as AirAsia Bhd plans to exit its loss-making business in India. This will make Vistara, Air India and Air Asia India, direct competitors in the Aviation industry and may drive a wedge between the Singaporean Airline and the salt-to-steel conglomerate, Tata Group.
Watch: Will Tata’s takeover revive Air India?
Though the Tata Sons hold a marginal majority stake (51%) than SIA (49%) in their joint venture Airline, Vistara. It will be to see how the situation unravels if the bid goes through for Tata, the likelihood of which is overwhelming. The government has extended its full support to the conglomerate post the conclusion of privatisation process, in case Tata wins the bid.
Post-acquisition of Air India, Tata Group intends to merge all its Airline business into one. So, the chances of Tata walking away from Vistara due to possible lack of operational synergy is not off the table.
Air India would need much attention and lots of fuel injection through pumping funds to get the stricken Airline up and flying. This would require crucial channelling of man-hours and funds that would have otherwise gone towards Vistara, but instead will now be loaded in the cargo bay of Air India and Air Asia India.
* Meanwhile, the outgoing councilor has also complained of murder after being tortured. The family alleges their daughter was raped and murdered. Jorabagan police have started investigation into the incident. Symbolic image.
The BJP is desperate to get Janardhan’s mind before the polls, but is ready to pull the ropes.
#Kolkata: BJP’s bird’s eye rath yatra in voting Bengal. Amit Shah-JP Nadda himself wants to get on the road with the chariot. A letter was given to Navanne on behalf of the BJP informing the route map of the rath yatra. Nabanna, however, said that the permission for the procession would not be given by Nabanna, but by the local administration. The BJP is desperate to get Janardhan’s mind before the polls, but is ready to pull the ropes.
Before the 21st general election, the BJP’s rath yatra has been renamed as Parivartan Jatra. From Kochbihar to Kakdwip, the chariot will travel to a total of 294 assembly constituencies. JP Nadda will start this journey from Navadwip on February 8. On February 9, under his leadership, the journey of change will start from Tarapith-Jhargram. BJP’s all-India president will be present at the event. On the other hand, Amit Shah is scheduled to be on the Kakdwip-Kolkata Rath Yatra on February 11. The BJP wants to run one journey from the Lok Sabha constituency for 25-30 days. And that is why the political turmoil has started.
On behalf of the Trinamool, Firhad Hakim says, such a plan actually divides the society. The people of Bengal understand this. They will protest and resist.
The BJP wants to hold some meetings ahead of this rath yatra. That is why the letter went to Navanne. The state secretariat has to return the letter to state BJP co-president Pradeep Banerjee and ask permission from the local administration.
BJP leader Shamik Bhattacharya says he hopes the top leadership of the state administration will allow it. However, the threat of breach of peace is not going to be ruled out. A public interest litigation has already been filed in the High Court to this effect.
Priest Mamata Banerjee at the scheduled conference today.
In the Lok Sabha elections, the party leader herself started fighting to plant grass where the ground under her feet was shaking.
#Kolkata: The vote of the people of Scheduled Castes and Scheduled Tribes is going to be the decisive factor in the formation of the government this year. That is what the political parties think Especially the two warring parties Trinamool Congress and BJP. In the whole of Bengal, therefore, the ruling Trinamool Congress is fighting to get the votes of the Scheduled Castes and Scheduled Tribes. In the Lok Sabha elections, the party leader herself started fighting to plant grass where the ground was shaking. She is the chief priest of the Trinamool Scheduled Caste Conference today.
He told the people of North Bengal, “I have lost in the Lok Sabha polls. I hope you will compensate me in the Assembly polls.” To that end, he has visited Dwars for the past three days to keep the northern tribal vote bank intact. Kochbihar and Alipurduar districts were under his notice for the last two days. With the Assembly polls looming, all political parties in North Bengal have jumped on the bandwagon and campaigned for tribal votes. This time Mamata Banerjee herself started fighting for that goal. So this afternoon, returning from North Bengal, he is attending the Trinamool Scheduled Castes and Tribes Conference in Calcutta.
Mamata Banerjee was present in Falakata and Alipurduar districts to hold the tribal vote bank for the last two days. Even Mamata Banerjee was present at the mass wedding organized by the state government in Falakata. The Trinamool Congress wants to repair the north. Indigenous and Scheduled Caste-Tribe votes are needed to make that repair. That vote the BJP is desperately trying to pull.
Central leaders like Amit Shah and JP Naddar are set to embark on a journey of change through the BJP’s rath yatra from Kochbihar district next week. Mamata Banerjee is going to give this message from the conference this afternoon. The political circles think that this will send a message that the Trinamool Congress is really on their side.
The Chief Minister has already visited several districts and areas inhabited by Scheduled Castes and Scheduled Tribes. All kinds of help is being given to them administratively. This time he wants to hold on to the political lands with the leaders of this organization of the ruling party. Especially on the issue of citizenship when the BJP wants to jump into the state. Amit Shah himself has to come to hold the Matua vote bank. Then before the vote, the ruling party is worrying about the scheduled caste-sub-caste vote.
There’s no reason for Dolly Parton to hide her tattoos, so why is the country singer abandoning rumours citing she has them? Dolly Parton’s tattoo rumours aren’t rumours anymore!
She is one of the world’s most iconic country music stars and has lent her voice to a myriad of projects. Dolly Parton‘s startling $500 million and counting net worth didn’t come easily, she first achieved success with her 1967 debut. Her album ‘Hello, I’m Dolly‘ led to her popularity in the ’60s and also brought her collaborations with Porter Wagoner.
Highlights —
All About Dolly Parton’s tattoo rumours
Dolly Parton reveals she has “tasteful” tattoos
Dolly Parton jokes about getting more tattoos
Her peak arrived in the 1970s and has continued to rise ever since. This singer has travelled far beyond her Nashville roots and is credited for broadening the audience for country music. Dolly Parton paved the way for other country music artists who came after her and followed in her inspiring footsteps.
Video Credits: Dolly Fan
She’s a legendary icon who, over the years, has gone on to become one of the world’s most-loved celebrities. So why is it that Dolly Parton repeatedly banishes rumours surrounding her tattoos? The singer’s inclination towards ink is a personal choice and she would never be judged for it. So why does Parton have tattoos if she believes she is “not a tattoo girl”?
Let’s reason with this rumour once and for all!
All about Dolly Parton’s tattoo rumours
The singer put her long-standing tattoo rumours to rest in an interview recently, but before that, let’s see their origin! For years, Dolly Parton’s fans have speculated that the singer has had tattoos, and her arms are covered in ink. If you’re wondering why there’s a solid theory behind it all.
The country legend’s eclectic style is inspiring, but fans have often spotted her wearing long sleeves. It’s impossible to look past it especially because Parton has been doing so for years. She hasn’t explicitly shared her love for long sleeves, but in an interview with “Vanity Fair” made a revelation.
Dolly Parton isn’t a tattoo girl but has tattoos, why
“I don’t really like to make a big to-do of [the tattoos] because people make such a big damn deal over every little thing.” Her statement hinted that she got tattoos to cover her arms after her condition left her with scars.
Dolly Parton reveals she has “tasteful” tattoos
The singer finally got candid about her ink in an interview with “People” last year. “I do have some tattoos, that’s true”, the singing legend and feminist icon shared. “But they’re tasteful. I’m not a tattoo girl.”
Dolly Parton confirmed only one rumour, and it has nothing to do with the one about her having tattooed arms. “My tattoos are pretty, they’re artful, and they usually started out to cover some scar, not to make a big statement“, she shared.
“Ribbons and bows and butterflies are the things that I have. I was very sick for a while and I had to wear a feeding tube. It left a little indention in my side and I didn’t like it because I’m so fair that scars turn purple on me.”
The country music legend shared that she liked to make the best out of a negative situation. Parton also revealed she had a beehive tattooed over a scar, “with a tiny little bee on top of the hive”.
Dolly Parton jokes about getting more tattoos
To be fair, Dolly Parton is Miley Cyrus’ godmother so we can see where she’s getting her tattoo inspiration from. When the singer was asked if she had a tattoo of her husband Carl Dean, she denied it. “No, he’s tattooed on my heart.”
The singer joked about getting inked again so she could be covered in tattoos so the rumours would have truth to them.
Video Credits: Facts Verse
“Who knows, I may get some more later. I may just have to get covered with tattoos just so everybody could be right!”
The rumours surrounding Dolly Parton’s tattoos got out of hand after photographs from red-carpet events drove fans crazy. The pictures saw the singer adorning colourful flowers around her lower neckline, which is probably one of her many artsy tattoos. While the singer obviously hasn’t provided photos of her ink, her statement is enough to keep rumours at bay. Just when we thought Dolly Parton couldn’t be more inspiring!
Were you aware of the rumours speculation Dolly Parton had her arms covered in ink? Let us know in the comments!
