Govt yet to take a call on bids for Air India selloff: Goyal

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Commerce and Industry Minister Piyush Goyal on Saturday said the government has not taken a decision on Air India and the final winner will be decided in a due course of time, in a well defined process. The minister who has been in Dubai, said the bid is being duly assessed by officers, when asked about whether Tatas have emerged as the top bidders for the debt-ridden carrier.

Secretary to Department of Investment and Public Asset Management (DIPAM)( responsible for Air India’s privatisation) , Tuhin Kanta Pandey said that the centre has not approved any financial bid for Air India.

“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”.

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. pic.twitter.com/PVMgJdDixS

— Secretary, DIPAM (@SecyDIPAM) October 1, 2021

The union minister was in Dubai to launch the annual business expo 2021 to launch the Indian pavilion.

Tata Airlines

The Tata group started Air India in October 1932 under the name Tata Airlines.

After the independence of the country in the year 1947, the need for a national airline was felt. In such a situation, the Government of India acquired 49 percent stake in Air India.

After this, in 1953, the Government of India passed the Air Corporation Act and then bought a majority stake in the company from the Tata group.