Tata Sons trumps Spicejet to win Air India bid, say reports. Govt says no final decision yet

Tata Sons has been selected as the winning bidder for the debt-laden state-run airline Air India, Bloomberg reported on Friday. Union Home Minister Amit Shah-led ministerial panel has given approval to the bid of Tata sons ahead of the bid…

Tata Sons trumps Spicejet to win Air India bid, say reports. Govt says no final decision yet

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Tata Sons has been selected as the winning bidder for the debt-laden state-run airline Air India, Bloomberg reported on Friday. Union Home Minister Amit Shah-led ministerial panel has given approval to the bid of Tata sons ahead of the bid of Spicejet said the report. The government however denied the reports of the approval of the financial bid and said that the media will be informed of the decision as and when it will be taken. Prime Minister Narendra Modi’s government has been pushing to sell its entire interest in the loss-making airline, kept aloft by a bailout since 2012. A similar exercise in 2018 to sell 76% stake drew no bids forcing the government to ease the terms. It had also extended the deadline multiple times due to the pandemic. Watch the full video for more details.

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