BENGALURU, Sept 30 (Reuters) – Tata Group-owned Air India is thinking about raising a minimum of $1 billion in a financing round that might value the provider at around $5 billion, Bloomberg News reported on Friday, pointing out individuals knowledgeable about the matter. Air India decreased to comment, while Tata Sons did not right away react to a Reuters ask for remark. The airline company remains in conversations with possible financiers consisting of personal equity funds and sovereign wealth funds, Bloomberg reported. (https://bityl.co/Eo6c) Register now totally free endless access to Reuters.comThe fund raise strategy follows Air India previously in the day revealed 20 extra weekly flights to Britain and the United States. The provider had actually stated it would broaden its fleet by more than 25%. learn more It is targeting a minimum of a 30% share of the domestic market over the next 5 years as it seeks to restore its credibility after years of losses at the previous state-run airline company. learn more Autos-to-steel corporation Tata Group took control of Air India in January after winning a quote in a $2.4 billion equity- and-debt offer. learn more The airline company is dealing with monetary consultants on the fundraising, which might be finished in the next couple of months, the report stated. Register now totally free limitless access to Reuters.comReporting by Nishit Navin in Bengaluru; Editing by Arun Koyyur Our Standards: The Thomson Reuters Trust Principles.
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