Air India gets financial bids for stake sale; Tata Sons, Spice Jet among suitors

The Centre has initiated the process of financial bids for debt-laden national carrier Air India. Civil aviation ministry had earlier clarified that it won't extend the deadline for stake sale. Tata Group & SpiceJet chairman Ajay Singh have made their bid for the airline, a report has confirmed. In 2018, a similar exercise to offload 76% stake was unsuccessful after no bidder was finalised. The national carrier is laden with a huge debt of around Rs 43,000 crores. At present, Air India has control over 4,400 domestic & 1,800 international landings. It also has control over parking slots at domestic airports as well as 900 slots abroad. The privatisation was to be completed by late May or June, but Covid led to the delay.