Air India Disinvestment: Tata Sons wins financial bid

Air India Disinvestment: Tata Sons wins financial bid

In 1946, the aviation division of Tata Sons was listed as Air India and in 1948, Air India International was launched with flights to Europe.

Commerce and Industry Minister Piyush Goyal on Saturday said the government announced Air India as the final winner for Air India disinvestment bid.

"I have been in Dubai since. day before and I don't think there is any such decision that has happened at all. Of course bids were invited. And that is assessed by the officers and in due course of time, there is a whole well laid down process through which the final winner will selected," he told reporters. He was replying to a question about media reports stating Tatas have emerged as the top bidder for the takeover of debt-laden Air India.

Tuhin Kanta Pandey, Secretary to Department of Investment and Public Asset Management (DIPAM) -- the government department responsible for privatisation -- had said in a tweet on Friday that the Centre has so far 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's decision as and when it is taken," he tweeted.

Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932. It was called Tata Airlines then.

In 1946, the aviation division of Tata Sons was listed as Air India and in 1948, Air India International was launched with flights to Europe.

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