Air India sale: Received multiple initial bids for state-run carrier, says govt

The government has received multiple bids for the disinvestment of its stake in national carrier Air India, secretary of Department of Investment and Public Asset Management said on Twitter.

“Multiple expressions of interest have been received for strategic disinvestment of Air India. The transaction will now move to the second stage,” the secretary tweeted on Monday as the bidding process concluded.

Tata Sons, India’s autos-to-steel conglomerate, is expected to have submitted an initial bid for the loss-making airline, sources aware of the matter told Reuters.