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The Indian government received multiple bids for its stake in state-run carrier Air India, including Tata Sons and a group of over 200 Air India employees, in the auction that ended Monday evening.
The secretary of the Department of Investment and Public Asset Management confirmed that there were several expressions of interest for strategic disinvestment of Air India, and the transaction now moves to the second stage.
Tata Sons, India’s autos-to-steel conglomerate, is expected to have submitted an initial bid. Tata operates two airlines in India, namely the full-service carrier Vistara, and budget airline AirAsia India.
The group of more than 200 Air India employees submitted an initial bid in partnership with a private financier.
The winning bidder would get control of Air India’s 4,400 domestic and 1,800 international landing and parking slots at domestic airports, and 900 slots at airports overseas.
It also gets 100 percent of the low-cost arm Air India Express and 50 percent of AISATS, which provides cargo and ground handling services at major Indian airports.
In January, India renewed its push to sell its entire interest in the losing airline, kept aloft since 2012 by a bailout.
The Indian government didn't receive any bids in an effort to auction a majority stake almost two years ago, forcing it to ease terms to attract bidders.
