The Union government has not given its final approval to Air India’s financial bids, the department of investment and public asset management said on Friday after reports that Tata Sons had won the financial bid for the national carrier.
“Media reports indicating approval of financial bids by Government of India in the AI (Air India) disinvestment case are incorrect. Media will be informed of the Government’s decision as and when it is taken,” Tuhan Kanta Pandey, secretary, DIPAM tweeted.
Senior Ministry of Civil Aviation (MoCA) officials told Hindustan Times that the process of opening the bid is being done and it is between four top airlines and ministry officials only. “Such big developments cannot be based upon sourced information. This is a confidential matter and is being dealt only by four senior officials,” said the MoCA official.
MoCA has been taking active steps towards the airline’s privatisation. Recently, the evaluation advisor RBSA and transaction advisor EY (Ernst & Young) had reportedly given a presentation on Air India’s evaluation to the aviation ministry.
After financial bids for AI disinvestment were submitted by Ajay Singh, chairman and managing director (CMD) of SpiceJet and Tata Sons on September 15, Tata Sons is reportedly said to acquire Air India as it is believed to have submitted a higher bid.
{{/usCountry}}After financial bids for AI disinvestment were submitted by Ajay Singh, chairman and managing director (CMD) of SpiceJet and Tata Sons on September 15, Tata Sons is reportedly said to acquire Air India as it is believed to have submitted a higher bid.
{{/usCountry}}Air India has control over 4,400 domestic and 1,800 international landing and parking slots at domestic airports as well as 900 slots abroad. AI privatisation was to be completed by late May or June, but the coronavirus disease (Covid-19) pandemic led to the delay.