Tata, SpiceJet promoter shortlisted for Air India bids

Tata Group and SpiceJet promoter Ajay Singh have been shortlisted for the bid to buy out Air India, said people familiar with the development. The two will now have to submit financial bids after completing due diligence on the national carrier’s books, agreements and liabilities. In their financial bids, the parties have to state the quantum of AI’s debt they will be willing to take up and the upfront payment they will make for the asset.

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