Tata shows interest in buying a majority stake in Air India Ltd

Vastavam web: India’s salt-to-software Tata conglomerate has shown an interest in buying a majority stake in state-run carrier Air India Ltd, television channel ET Now reported on Wednesday, citing unnamed sources. Prime Minister Narendra Modi’s administration has been exploring ways to privatise the loss-making national carrier, which was bailed out in 2012 with $5.8 billion of central funding. The television channel said that Natarajan Chandrasekaran, chairman of Tata group’s holding company Tata Sons, was in touch with the top leadership in the government about a deal.An official at the Civil Aviation Ministry declined to comment on Tata’s interest, saying any development on the carrier would be “intimated soon”.