Tata Sons Wins The Bid For National Carrier Air India: Report

Advertisement

Update: “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.”

Tata Sons wins the bid for national carrier Air India as they were the highest bidder, reported news agency ANI, quoting sources. Union Home Minister Amit Shah-led ministerial panel gave approval to this bid.

The final bid to acquire one of India’s biggest Airlines was filed by the conglomerate on September 15 after which business critiques believed it to be the frontrunner to purchase the airline.

Advertisement

“Tata Sons wins the bid for national carrier Air India. Tata Sons was the highest bidder. Union Home Minister Amit Shah-led ministerial panel has given approval to this bid: Sources” ANI Twitted.

The runner-up company was SpiceJet promoter Ajay Singh, who had also submitted a bid for the airline.

The announcement comes just a day after a report hinted that the government finalised the minimum reserve price for the airline. The minimum reserve price for the national carrier is based on future cash flow projection, brand value and slots in foreign airports.

Advertisement

It has also been reported that Tata Sons’ bid for Air India was Rs 3,000 crore more than the reserve limit set by the government.

(Source: With Inputs From ANI)


Travel News And Updates On WhatsAapp and Telegram

Follow and connect with us on FacebookTwitter, Linkedin, Google News, and Telegram For the latest travel news and updates!


Also Read: Air India Sale: Tata Group Leading Contender To Buy Air India, Home Minister-led Panel To Approve Winning Bid

Advertisement
Advertisement

Newsletter Updates

Enter your email address below to subscribe to our newsletter

Leave a Reply