The government on Wednesday said that it had received multiple financial bids for buying national carrier Air India. 

A Tata Sons spokesperson told the PTI that it had put in a bid for the airline. “Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage,” DIPAM Secretary Tuhin Kanta Pandey tweeted today. 

The government is seeking to sell 100 per cent of its stake in the State-owned national airline, including Air India’s 100 per cent shareholding in AI Express and 50 per cent in Air India SATS Airport Services. 

The stake sale process, which had begun in January last year, faced delays due to COVID-19 pandemic. In April 2021, the government had asked potential bidders to put in financial bids. Aviation Minister Jyotiraditya Scindia had recently made it clear that September 15 date for the process was fixed and would not change. After failing to find any buyer for a 76 per cent stake in Air India in 2018, the government is expected to complete the sale of the national carrier this time. 

Air India is laden with a huge debt of around Rs 43,000 crore, of which Rs 22,000 crore will also be transferred to Air India Asset Holding (AIAHL). 

“The debt of the airline has now increased to Rs 43,000 crore, and all these loans are under government guarantee. And the government will bear this debt before the airline is transferred to the new owners,” sources said. The government has declined to share any details on expectations from the sale of Air India.