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Bidders Take a Flyer on Debt-Ridden Air India Bidders Take a Flyer on Debt-Ridden Air India Comments Off on Bidders Take a Flyer on Debt-Ridden Air India TAMIL NADU A number of bidders including the original owner are vying to breathe new life into debt-ridden Air India. Over the years, the government-owned national carrier has accumulated debt of over INR 58,000 ($7.8 billion). In addition to selling 100 percent stake in the stressed airline, the government is also unloading Air India Express as well as a 50 percent stake in Air India’s cargo and baggage handling service. Now, India’s largest conglomerate, Tata Group which founded Air India as Tata Airlines in 1932 is among the bidders for the beleaguered airline. Tata’s bid is reported to be submitted through AirAsia India, which it owns jointly with AirAsia Malaysia. ....