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News of Tata Sons winning Air India bid incorrect: DIPAM

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Hours after reports of Tata Sons acquiring the airline emerged, Department of Investment and Public Asset Management (DIPAM) denied them

New Delhi: Reports of Tata Sons winning the bid for purchase of government-run Air India are not correct, the Secretary, Department of Investment and Public Asset Management (DIPAM), said on Friday, hours after the report emerged.

“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,” the tweet by the Secretary, DIPAM, read.

Earlier on Friday, there were reports in the media about Tata Sons making the winning bid to acquire Air India as part of its divestment. Air India, originally Tata Airlines founded by JRD Tata, had been taken over by the government after Independence.

It has been under stress because of heavy debts over the past few years, especially after its merger with the domestic carrier Indian Airlines.

 

 

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