Confusion prevailedall around it was reported that Tata Sons had won the bid for nationalcarrier Air India. However, the government quickly refuted the report andtweeted that the report was incorrect.
The government hasdenied media reports that Tata Group has won the bid for thedebt-laden Air India. Bloomberg had reported earlier that salt-to-softwareconglomerate would re-acquire the national carrier more than half a centuryafter ceding control to the government. "Media reports indicating approvalof financial bids by Government of India in the AI disinvestment case areincorrect," the finance ministry said on Friday, adding the media will beinformed of any decision "as and when it is taken."
Tata Group andSpiceJet chairman Ajay Singh in his private capacity had bid for theembattled state-run Air India earlier this month. In December 2020, thegovernment had invited expression of interest for the divestment of Air India.Four bidders had entered the race to take over the beleaguered airline, butTata Group and Spicejet CEO Ajay Singh were the only ones to make it to thefinal stage.
The airline wasfounded in 1932 and the official name of the airline was Tata Airlines. In1946, the aviation division of Tata Sons was listed as Air India and, in 1948,the Air India International was launched with flights to Europe. In 1953, AirIndia was nationalised.
The government isseeking to sell 100 per cent of Air India's stake, the process of which beganin January 2020. The process was paused owing to the pandemic and was revivedagain in April 2021. September 15 was the last day for putting in financialbids.