Tata group bids for Air India

The Tata Group has made its financial bid for the debt-laden national carrier Air India (AI) on Wednesday, said government sources

According to sources, the Tata group’s bid is also at the forefront. The Tata-winning Air India would be the airline’s homecoming for the conglomerate that had transferred the company to the government in 1953. The privatization of loss-making Air India is being seen as one of the biggest reforms by this government . Financial Bids for Air India Disinvestment received by Transaction Advisor. The process has now moved to the concluding stage, tweeted the DIPAM secretary.

The winning bid is likely to be announced before the end of this month and the government plans to transfer the airline to the winning bidder by the end of this financial year. Earlier today, the government has initiated the process of financial bids for the debt-laden national carrier. Aviation Minister Jyotiraditya Scindia made it clear that September 15 date for the process is fixed and will not change

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