Final bids for Air India disinvestment today, Tata group also in race

The government has initiated the process of financial bids for the debt-laden national carrier Air India on Wednesday as Aviation Minister Jyotiraditya Scindia made it clear that September 15 date for the process is fixed and will not change. After failing to find any buyer for a 76% stake in Air India in 2018, the government is expected to complete the sale of the national carrier with at least two buyers expected to submit financial bids by September 15. "The Tata Group, through its holding company and SpiceJet chairman Ajay Singh, is likely to make its financial bid for the airline in his personal capacity," an industry source told ANI. "We are very optimistic that this time Air India will get a new bidder," a government source said on the condition of anonymity. Air India is laden with a debt of around Rs 43,000 crores of which Rs 22,000 crores will also be transferred to the Air India Asset Holding Limited (AIAHL). "The debt of the airline has now increased to Rs 43,000 crore and all these loans are under government guarantee. And the government will bear this debt before the airline is transferred to the new owners," sources said.<br/>