'Incorrect': Government after reports on Tata Sons winning Air India bid

Confusion prevailed all around it was reported that Tata Sons had won the bid for national carrier Air India. However, the government quickly refuted the report and tweeted that the report was incorrect. Secretary of Department of Investment and Public Asset Management tweeted: “Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken.”

Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken. pic.twitter.com/PVMgJdDixS

— Secretary, DIPAM (@SecyDIPAM) October 1, 2021

Earlier, it was reported that a panel of ministers had accepted a proposal recommending Tata Sons’ bid for debt-laden state-run airline Air India. The government had begun an evaluation of the financial bids on Thursday, PTI had reported. The panel had received bids from Tata Group and SpiceJet founder, though the former was a leading contender. Tatas were also the potential bidders for the airline when the government had tried to sell a stake in the carrier in 2001 and 2007. Tata’s association with Air India dates back to 1932, when Tata Group founded Air India. However, the government nationalised the airline in 1953.