{"id":439659,"date":"2021-10-01T16:03:23","date_gmt":"2021-10-01T10:33:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=439659"},"modified":"2021-10-01T16:03:23","modified_gmt":"2021-10-01T10:33:23","slug":"tata-sons-selected-as-winning-bidder-for-air-india-bloomberg-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tata-sons-selected-as-winning-bidder-for-air-india-bloomberg-report\/","title":{"rendered":"Tata Sons selected as winning bidder for Air India: Bloomberg report"},"content":{"rendered":"<p>Tata Sons has been selected as the winning bidder for the debt-laden state-run airline Air India, Bloomberg reported.<\/p>\n<p>A panel of ministers accepted a proposal from officials recommending the salt-to-software conglomerate ahead of an offer from Ajay Singh, promoter of India&#8217;s airline operator Spicejet Ltd, the report said.<\/p>\n<p>A spokesperson for Tata Sons declined to comment. A finance ministry spokesperson did not immediately respond to a Reuters message seeking comment, while Air India declined to comment.<\/p>\n<p>Prime Minister Narendra Modi&#8217;s government has been pushing to sell its entire interest in the loss-making airline, kept aloft by a bailout since 2012.<\/p>\n<p>The government loses nearly 200 million rupees every day to run the national carrier, which has accumulated losses of over 700 billion rupees ($9.53 billion), officials have said.<\/p>\n<p>An effort to auction a majority stake almost three years ago drew no bids, forcing the government to ease the terms. It had also extended the deadline multiple times due to the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tata Sons has been selected as the winning bidder for the debt-laden state-run airline Air India, Bloomberg reported. A panel of ministers accepted a proposal from officials recommending the salt-to-software conglomerate ahead of an offer from Ajay Singh, promoter of India&#8217;s airline operator Spicejet Ltd, the report said. A spokesperson for Tata Sons declined to comment. A finance ministry spokesperson did not immediately respond to a Reuters message seeking comment, while Air India declined to comment. Prime Minister Narendra Modi&#8217;s government has been pushing to sell its entire interest in the loss-making airline, kept aloft by a bailout since 2012. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[229],"tags":[],"class_list":["post-439659","post","type-post","status-publish","format-standard","hentry","category-civil-aviation"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/439659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=439659"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/439659\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=439659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=439659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=439659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}