Tata Sons, SpiceJet bid for Air India

New Delhi : Tata Sons and SpiceJet have reportedly submitted their bid to buy Air India national carrier on Wednesday. The bidding process is now in the concluding stage.

Air India received financial bids for its disinvestment process, Finance Ministry said. "Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," Secretary, Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey stated.

Earlier, Aviation Minister Jyotiraditya Scindia had informed that the last date to file bid for Air India is September 15 and this will not be changed.

Tatas set up Tata Airlines in 1932, which was later in 1946 renamed as Air India. The government took control of the airline in 1953 but JRD Tata continued to be its chairman till 1977.

At present, Tata operates Vistara in partnership with Singapore Airlines and AirAsia India in partnership with Malaysia's AirAsia.

Air India has a debt of ₹ 43,000 crore of which ₹ 22,000 crore will also be transferred to the Air India Asset Holding Limited (AIAHL).