New Delhi: Tata Sons has been selected as the winning bidder for the debt-ridden airline Air India, according to a Bloomberg report Friday. The report said that a panel of ministers accepted a proposal from officials recommending Tata Sons as the winner ahead of the bid made by Ajay Singh, who incidentally is the promoter of Spicejet Ltd. However, till now there is no confirmation or comment on the development from the spokespersons of Tata Sons.
The Finance Ministry or Air India officials have also refused to comment on the development. However, other sources confirmed that Tata Sons have been chosen as the company to help Air India come out from its present debt-ridden condition.
It should also be stated here that the government incurs a loss of approximately Rs 20 crore annually to run the national airline. The total outstanding loss of Air India now stands at Rs 70,000 crore
Prime Minister Narendra Modi’s government has been trying its best to sell its entire interest in the loss-making airline, kept aloft by a bailout since 2012.
It should be stated here that Tata Sons in association with Singapore Airlines already operates Vistara. The commencement of operations of Vistara happened in January 2015.