Air India receives bids from suitors

The Union finance ministry has received multiple bids for Air India and the process for the loss-making state-run airline’s disinvestment now “moves to the concluding stage”, a government official said on Wednesday.

The announcement was made in a tweet by Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (Dipam), although he did not disclose who or how many bidders expressed interest.

Tata Sons later announced it had submitted bids and other people aware of the matter separately identified SpiceJet promoter Ajay Singh as one of the other bidders. Singh did not respond to requests for a comment.