The Tata Group was one of the first to buy the airline for which the bid was submitted last month.
The Centre has selected the proposal that recommended Tata Sons' bid for debt-laden state-run airline Air India, reported Bloomberg News on Friday. Tata Group was one of the firsts to buy the airline for which the bid was submitted last month. Reportedly, a panel of ministers accepted the proposal that was recommended by officials ahead of an offer from Ajay Singh, founder of another Indian airline, SpiceJet.
Union Finance Minister Nirmala Sitharaman, Aviation Minister Jyotiraditya Scindia and Commerce MInister Piyush Goyal were among the ministers who evaluated the bid.
The reserve price of Air India was likely Rs 15,000- 20,000 crore, reported TOI. Originally, Air India was known as Tata Airlines, which was established in 1932. India's first licensed pilot, JRD Tata was the founder of the airline. The airline was nationalised in 1947.
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