The Indian government has commenced the latest phase of its sale of flag carrier Air India by formally inviting preferred bids. According to officials, it is now at the all-important financial bidding stage and they expect a sale to be completed by September.
The government is selling 100% in Air India and Air India Express. Front runner in the bid process is conglomerate Tata Sons, which already has majority stakes in Indian airlines Vistara and AirAsia India.
Eligible bidders were given access to a Virtual Data Room before submitting their final bids which are due within the next two months.
