The Tata Group has begun due diligence on beleaguered national carrier Air India and may make a formal bid close to the official deadline at the end of this month. The focus at the moment is to examine business synergies and viability, it is learnt.
Officials said it is too early for discussions around funding or the possible business structure till the due diligence is complete. Confirming the development officially for the first time, a Tata Sons spokesperson said: “Tata Sons is currently evaluating the proposal and will consider a bid after due consideration and at the appropriate time. There is no plan to bring in a financial partner.”
Other airlines interested in the national carrier are understood to be lobbying to carve out Air India Express to enable them to bid for the low-cost airline, according to people familiar with the bidding process.