Tata Sons selected as winning bidder for Air India: Report
New Delhi: Tata Sons is believed to have been selected as the final bidder for the debt-laden state-run airline Air India, the media reports said.
A panel of ministers accepted a proposal from officials recommending the salt-to-software conglomerate ahead of an offer from Ajay Singh, promoter of India’s airline operator Spicejet Ltd, the report said.
The move came after the Prime Minister Narendra Modi led union government has proposed to sell its entire interest in the loss-making airline, kept aloft by a bailout since 2012.
According to the government, it had lossabout 200 million rupees every day to manage the national carrier that has accumulated losses of over 700 billion rupees ($9.53 billion).
