Tata Group and SpiceJet in the field to buy Air India

- Currently the company is worth Rs. 60,000 crore is pressed under a huge debt pile

- The government has given some tax relief and also relaxed the terms of the debt so that the company can be sold soon.

New Delhi: The Indian government on Wednesday said it has received bids from several other companies, including Tata Group and SpiceJet, to buy the country's oldest Air India. Meanwhile, a Tata Group spokesperson also told PTI that his group had also sent its bid to the government to buy Air India. Ajay Singh Pum, chairman and managing director of SpiceJet, said he had submitted his financial bid to the government to buy Air India.

The transaction advisor has received a financial bid for Air India's disinvestment, so now the process of Air India's disinvestment can move towards the final conclusion, the department said.

Secretary of Investment and Public Asset Management (DIPAM) Tuhinkanta Pandey said in a tweet on his Twitter handle. The government wants to sell 100 per cent stake in Air India, including 100 per cent ownership of its wholly-owned Air India Express. In addition, 50 per cent stake in Air India Sets Airport Services Pvt Ltd will be sold.

Although the process of selling Air India's stake began in January 2020, it was delayed due to the epidemic of covid. In April 2012, the central government itself asked companies that were considered strong candidates to buy Air India to submit their financial bids. September 18 and Wednesday was the last day to send bids.

It is worth mentioning that Air India currently has Rs. It is burdened with a huge debt of Rs 30,08 crore. However, the company that bought Air India has to pay Rs. The debt will be Rs 4.5 crore while the rest will be transferred to Air India Asset Holding Limited. It may be recalled that Air India had started making losses since the merger of Indian Airlines and Air India in 2008. Coincidentally, Air India was founded by the Tata Group in the 19th century, but at the time it was a private company, and now the Tata Group has again shown the most interest in buying it.