New Delhi, Oct 1: Sources of union government have denied the reports that Tata Sons has won the bid for national carrier Air India
Bloomberg earlier reported that a panel of ministers accepted a proposal recommending Tata Sons's bid for debt-laden state-run airline Air India ahead of an offer from Ajay Singh, promoter of India's airline operator Spicejet Ltd, the report said.
The Secretary of the Department of Investment and Public Asset Management (DIPAM), however, has denied any such development. "Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken," the Secretary, DIPAM, said in a tweet.
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's government has been pushing to sell its entire interest in the loss-making airline, kept aloft by a bailout since 2012.
The government loses nearly Rs 20 crore every day to run the national carrier, which has accumulated losses of over Rs 70,000 crore ($9.53 billion), officials have said.
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.
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