Govt likely to open bid for Air India today

The government is likely to open a financial bid for the loss-making airline Air India today. According to sources, the government wishes to announce the winning bid by October 15

New Delhi:The Government of India, which intends to announce a winning bid for Air India by October 15, is likely to open a financial bid for the national carrier today, sources said.

According to the report, 85 per cent of the bid price will be for Air India's debt, while 15 per cent will be in cash. According to media reports, multiple bids have been placed by business ventures, among whom Tata Sons, the holding company of India's largest conglomerate, and SpiceJet chief Ajay Singh are among the most prominent ones.

On September 25, Union Civil Aviation Minister Jyotiraditya Scindia said the privatisation process of Air India was underway and the technical bids were being analysed before the financial bids are opened. He, however, refused to elaborate on the number of bids received for the debt-laden national carrier.