Tata Sons have won the bid for Air India. A panel of ministers has accepted the firm’s proposal to take over the airline.

There is no confirmation from the Department of Investment and Public Asset Management (DIPAM). The department’s Secretary has tweeted that, “Media reports showing approval of financial bids by Government of India in the Air India case are incorrect. Media will be informed by the Government decision as and when it is taken,” he tweeted on Friday.

Air India is under a debt of over Rs 60K crore. The carrier has a 127-aircraft strong fleet that dominates 50.64 per cent of the International market share, amid Indian airlines. Air India currently serves 42 international destinations. The successful sale of the page will help the government to move towards its divestment program, where it is planning to privatise several state-owned assets to join the budget deficit.