Adanis may bid for Air India

Billionaire Gautam Adani’s energy and infrastructure conglomerate is considering a bid to buy Air India and is pouring into bid documents before finalising a plan, sources said.

The government is offering to sell its entire holding in the loss-making carrier along with its entire interest in its low-cost arm and 50 per cent in the ground handling unit.

Sources with knowledge of the development said Adani Group was scrutinising the bid documents and the interest was at a preliminary stage.

Bidding, they insisted, would depend on the due diligence. If Adani bids, it will join the likes of Tata Group, Hindujas, IndiGo and New York-based fund Interups who are said to be considering putting in an expression of interest (EoI).