Tatas, SpiceJet's Ajay Singh launch financial bids for Air India

Tatas, SpiceJet's Ajay Singh launch financial bids for Air India

The Tatas took another step today to be at the helm of Air India, an airline started by J R D Tata way back in 1932 as Tata Airlines. Sources in the group confirmed that it had put in a financial bid for Air India. Sources confirmed that SpiceJet promoter, Ajay Singh, has also put in a financial bid. A WhatApps sent to Singh remained unanswered. The confirmation from the Tatas came shortly after DIPAM Secretary, Tuhin Pandey tweeted, “Financial bids for Air India divestment received by Transaction Adviser. Process now moves to concluding stage.” The Tatas currently have a stake in two airlines---- AirAsia India, which is a low-cost carrier and full service carrier Vistara. There is no clarity on which of the two airlines companies will be the …
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