Breaking: Govt denied reports of Tata Sons winning Air India bid
The government has denied media reports that Tata Group has won the bid for the debt-laden Air India. “Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect,” the finance ministry said on Friday, adding the media will be informed of any decision “as and when it is taken.”
Tata Group and SpiceJet chairman Ajay Singh in his private capacity had bid for the embattled state-run Air India earlier this month. In December 2020, the government had invited expression of interest for the divestment of Air India.
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Four bidders had entered the race to take over the beleaguered airline, but Tata Group and Spicejet CEO Ajay Singh were the only ones to make it to the final stage. This has been the second attempt by the PM Modi-led government to sell Air India.
The centre had made an unsuccessful attempt to sell the ailing airline earlier in March 2018. However, its expression of interest to sell 76 per cent stake in Air India had no takers at that juncture due to concerns regarding the airline’s burgeoning debt.
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But despite its precarious finances, Air India still controls more than 4,400 domestic and 1,800 international landing and parking slots at domestic airports, and 900 slots overseas.
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