Two buyers who came forward to buy Air India, Tata Sons and SpiceJet’s chairman bid

Air India Disinvestment: The disinvestment of the debt-ridden public sector company Air India has now reached the last stage. Today was the last date for bidding in Air India. Only two investors have bid in this. According to news agency PTI, Tata Sons has made a bid to buy Air India. A company spokesperson gave this information. Apart from this, SpiceJet chairman Ajay Singh has bid in his personal capacity.

Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), wrote on Twitter, “Transaction Advisor has received financial bids for Air India disinvestment. The process is now in the final stages.” The central government is looking to sell its 100 per cent stake in the state-owned airline, which includes Air India’s 100 per cent stake in AI Express Ltd and 50 per cent stake in Air India SATS Airport Services Pvt Ltd.

The process of disinvestment which started from January 2020 has been delayed due to the COVID-19 pandemic. The government had asked prospective bidders to submit financial bids in April, 2021.

Significantly, Air India has a debt of about 43 thousand crores. Out of this, 22 thousand crores will be transferred to Air India Asset Holding Limited. In the year 2018, the government had considered selling 76% stake in Air India, but no buyout was received at that time. After that the process of selling it completely was started.