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Eight parties file bids for Air-India

At least eight prominent business groups and leading international airlines, including the Tatas and Singapore Airlines (SIA) together, are understood to have made a bid for Air-India, with Friday being the last date for submission of expressions of interest for the international flagship.

While the Tatas announced in Bombay that they would lead a consortium with SIA along with the group's Indian affiliates to acquire 40 per cent stakes in the carrier, industry sources said the Hindujas have created a "special purpose vehicle" with its other companies to pick up equity stakes of both A-I and domestic carrier Indian Airlines.

Besides this, Ashok Leyland which has a net worth of over Rs 10 billion, also meets the criteria for the divestment process, the sources said.

Others understood to be in the race for A-I include British Airways, a consortium of Air France and Delta, besides German carrier Lufthansa.

Industry sources said the Hindujas were talking to about three international carriers and would finalise its partners after studying the terms of reference and other economic documents pertaining to the A-I.

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