Air India sale plan may take off with bids from Tata Group and SpiceJet Chairman Ajay Singh

At least two entities are expected to submit financial bids on Wednesday for Air India, marking an important milestone in the government’s plan to privatise the national carrier. The government had failed to attract suitors for a 76% stake in Air India in 2018 but it has sought to make the deal more attractive this time around in order to ensure that a sale takes place, they said.

The Tata Group, through a holding company, and SpiceJet NSE 1.67 % chairman Ajay Singh, in his personal capacity, are likely to pitch for the airline. Tata is regarded as the frontrunner, according to experts. “We are very hopeful that Air India will get a new owner this time,” said a person who didn’t want to be identified.