Report Wire - Financial bids acquired for Air India disinvestment; Tatas amongst suitors

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Financial bids acquired for Air India disinvestment; Tatas amongst suitors

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Financial bids received for Air India disinvestment; Tatas among suitors

The authorities on Wednesday stated it has acquired a number of monetary bids for purchasing nationwide provider Air India.
Meanwhile, a Tata Sons spokesperson advised PTI that it has put in a bid for the airline.
“Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage,” DIPAM Secretary Tuhin Kanta Pandey tweeted.
The authorities is in search of to promote 100 per cent of its stake within the state-owned nationwide airline, together with Air India’s 100 per cent shareholding in AI Express Ltd and 50 per cent in Air India SATS Airport Services Private Ltd.
The stake sale course of, which begun on January 2020, confronted delays because of the COVID-19 pandemic. In April 2021, the federal government requested potential bidders to place in monetary bids.