Tata Sons has been selected as the winning bidder for debt-laden state-run carrier Airline, according to a Bloomberg news report.
The report said that the central government has accepted Tata Sons’ proposal to take over the national airline. However, it is believed that the official announcements about this development will be out soon in the coming days.
Meanwhile, The Times of India reported that the government will divest its 100 per cent stake in the debt-ridden Air India, Air India Express and 50 per cent stake in the ground handling company (AISATS).
Tata Sons were the prominent investors to buy Air India and had submitted the bid last month. SpiceJet founder Ajay Singh was also among the bidders.
