The sale of national carrier Air India has reached the financial bidding stage and the transaction is likely to be concluded by September this year, said media reports. The Indian government has started the process of inviting the financial bids for the sale of the cash-strapped Air India, after ineligible bidders were filtered out in the initial stages.

Salt-to-software conglomerate Tata Group was among multiple companies that had put in preliminary bids to buy Air India last December, India Blooms said. 

According to media reports, the eligible bidders were provided access to the Virtual Data Room (VDR) of Air India, following which the investors were given answers to their questions.

The transaction has now progressed to the financial bidding stage and is likely to be completed by September, sources said, reported media.

The government is selling the entire 100 per cent stake in Air India that will give the successful bidder access to 1,800 international and 4,400 domestic landing and parking slots at domestic airports, as well as 900 slots at airports overseas, stated media reports.

The buyer will also get 50 per cent of AISATS, which provides cargo and ground handling services at major Indian airports and 100 per cent stake of Air India Express, the low-cost carrier owned by Air India.