Tata Sons wins bid for Air India, official announcement awaited
The wait is finally over. Tata Sons has won the bid for national carrier Air India, Bloomberg has reported. As per the report, a panel of ministers has accepted the conglomerate’s proposal to take over the airline.
Later in the day however, the seniormost bureaucrat in charge of the govermment’s divestment programme said that a final decision was yet to be taken.
“Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken,” tweeted Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM).
Moneycontrol has independently confirmed with sources that Tata Sons is indeed the frontrunner for the bid. “The Tatas have placed the highest bid for Air India,” the source said, adding that an official decision on the disinvestment rollout will be taken in the next few days. CNBC TV-18 has reported that the government plans to complete the handover of the airlines to its new owners by December.
Moneycontrol has reached out to the Tata Sons and a reply is awaited.