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Business deals

Tata submits bid to buy loss-making Air India

Government says process to sell the airline is moving to 'concluding stage'

The Indian government says its effort to sell off Air India is in the final stages.   © Reuters

NEW DELHI -- Tata Group, India's largest conglomerate, has submitted a bid to buy Air India as the government says its effort to finally sell the debt-laden national carrier is entering its "concluding stage."

"The Tatas have submitted [their] financial bid for Air India," a spokesperson for the salt-to-software conglomerate told Nikkei Asia on Thursday, without giving further details.

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