Air India bidder set to be announced by October 15
The government is likely to announce the buyer of Air India by October 15. The financial bids for the national carrier may be opened any day this week.
Published: 29th September 2021 08:27 AM | Last Updated: 29th September 2021 08:27 AM | A+A A-
Representational Image. (File Photo)
NEW DELHI: The government is likely to announce the buyer of Air India by October 15. The financial bids for the national carrier may be opened any day this week. The Centre on September 15 received multiple financial bids for divestment of Air India. Tata Sons and industrialist Ajay Singh in his personal capacity have submitted the financial bids.
As per the sources in the aviation ministry, Tata Sons are said to be the frontrunner. All the bids would be evaluated on various parameters and the winning bidder would be announced after approval of the Group of Ministers headed by home minister.
Earlier, the government invited bids for 100 per cent strategic disinvestment of the national carrier. It also included a 100 per cent stake in Air India Express Ltd and a 50 percent stake in Air India SATS. The last date for submission of preliminary bids was extended several times because of Covid-19 pandemic. The A-I has continued to post loss for last many years including Rs 5,348.18 crore in FY18, Rs 8,556.35 crore in FY19 and Rs 7,982.83 crore in FY20.
