Financial bids received for Air India disinvestment; Tatas among suitors

The government on Wednesday said it has received multiple financial bids for buying national carrier Air India.

Meanwhile, a Tata Sons spokesperson told PTI that it has put in a bid for the airline.

“Financial bids for Air India disinvestment received by Transaction Adviser. The process now moves to the concluding stage,” DIPAM Secretary Tuhin Kanta Pandey tweeted.

The government is seeking to sell 100 percent of its stake in the state-owned national airline, including Air India’s 100 percent shareholding in AI Express Ltd and 50 percent in Air India SATS Airport Services Private Ltd.

The stake sale process, which begun in January 2020, faced delays due to the COVID-19 pandemic. In April 2021, the government asked potential bidders to put in financial bids.