Tata Sons have won the final bid for acquiring national carrier Air India, according to government sources. The salt-to-software conglomerate had submitted the final bid for the airline on September 15 and emerged as the frontrunner to acquire the airline. While SpiceJet promoter Ajay Singh had also submitted a bid for the airline, government sources have confirmed that Tata Sons submitted a higher offer for acquiring the airline. Sources said a ministerial panel led by Union Home Minister Amit Shah approved the bid submitted by Tata Sons. The development comes a day after a report indicated that the government finalized the minimum reserve price for the airline. The government had finalized the minimum reserve price for the national carrier, based on future cash flow projection, brand value, and slots in foreign airports. Sources indicated that the bid submitted by Tata Sons was Rs 3,000 crores more than the minimum reserve price set by the government committee.
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