Govt denies media reports about Tata Sons winning bid to acquire Air India

After the report of Tata Sons winning the bid for Air India started being flashed across media platforms, the government denied them as being 'incorrect'.

Secretary, Department of Investment and Public Asset Management (DIPAM) tweeted the information saying, "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."

The uncertainty looming over the future of the national carrier, Air India seemed to have finally come to an end.

Validating what National Herald reported on September 20, the development regarding disinvestment of Air India confirmed that Tata Sons – a company owned by Ratan Tata – has won the bid to acquire it.

As per Air India sources, a panel of Ministers had accepted the Tata group’s proposal to take over the airline.

Tata group had made the highest bid, said source privy to the development. As per the sources, an official announcement is expected in the coming days.

Apart from Tata Sons, Spice Jet had submitted a bid for the ailing airline.

Air India has a fleet of 263 Boeing and Airbus aircrafts. Besides that, Air India Express, which mainly flies to Gulf countries, has a fleet of 25 Boeing aircrafts, as reported by NH earlier.

As per sources, and as NH reported, the “legacy factor” worked in favour of the Tata group.

67 years ago, the Tata group had founded Tata Airlines in 1932. After independence, it was nationalized in 1953 and was renamed as Air India.