What is the latest on the bids for Air India by various private parties?

The Secretary of the Department of Investment Planning and Management or DIPAM, has confirmed that the government had received multiple bids for the proposed sale of Air India. While Tata Sons have confirmed that they were one of the parties bidding for Air India, the other party is reported to be Ajay Singh, the promoter of SpiceJet. In addition, 2-3 other private equity funds are also expected to be in the fray as investors.

The Air India divestment will get a new thrust with the Cairn irritant out of the way after Cairn UK accepted the government offer. Air India has outstanding debt of Rs.43,000 crore out of which Rs.22,000 crore is proposed to be moved to an asset holding company. Air India is valuable as it currently controls over 4,400 domestic and 1,800 international landing and parking slots at Indian airports and 900 slots abroad. That is a big asset.