Tata Sons have won the bid to get hold of debt-laden national carrier Air India, marking the return of the national airline to the fold of Tatas after 68 years.
Bloomberg has reported that Tata Sons have won the bid, citing unidentified sources on Friday morning and claimed that a panel of ministers accepted a proposal from the salt to software conglomerate. However, the ministry has denied the report hours after it was quoted by many news agencies and news portals.
As of yesterday, Thursday, Sept 30, only two bidders were found apt -- Tata Group and domestic carrier SpiceJet's Ajay Singh. The reserve price was not revealed, though.
An official announcement of the deal is expected to be made soon as the government can heave a sigh of relief to off-shoulder the money guzzling airline, reeling under a debt of over Rs 60,000 crore, said Bloomberg report.
Later in the day, the government denied the report. It said in a tweet: "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."
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. pic.twitter.com/PVMgJdDixS
— Secretary, DIPAM (@SecyDIPAM) October 1, 2021
As of now, Air India has a 127-aircraft fleet and controls 50.64% of the International market share when clubbed with AIXL, among Indian carriers with 42 global destinations.
Air India was started by the Tatas in 1932 as the Tata Airlines and then sold to the government in 1953.
