Tata Group most likely to bid for Air India today

New Delhi, 14/12: Tata Group is likely to submit an expression of interest (EoI) for cash-strapped national carrier Air India Limited on Monday. The deadline to submit the expression of interest is 5 pm today.

Tata Group will use Air Asia as a vehicle where Tata Sons have a significant majority stake, said a source.

Provisional figures show Air India’s total debt at Rs 58,351.93 crore as of March 31, 2019. The government is offering 100 percent stake in the national carrier to potential bidders besides relaxing a substantial part of the airline’s debt.