The Tata Group has emerged as the frontrunner to acquire Air India, as the government looks to close one of its most ambitious disinvestment projects, multiple sources told The Indian Express.
Even as the government is yet to formally approve Tata’s winning bid, people with direct knowledge of the matter said the Mumbai-based conglomerate has placed the highest bid — over Rs 5,000 crore more than SpiceJet promoter Ajay Singh, who participated in his individual capacity in the bidding process.
An official announcement is likely to come after the Air India Specific Alternate Mechanism (AISAM), a group of ministers headed by Home Minister Amit Shah, ratifies the winning bid. Other members of AISAM are Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, and Civil Aviation Minister Jyotiraditya Scindia.
