Only the Tata Group and private airline Spicejet remain in the fray for buying Air India as all the other bids have been rejected, according to sources close to the development. The bids have been rejected after the evaluation of the expressions of interest (EoI) where multiple bids were received.

The transaction advisors have been in touch with the interested bidders regarding several queries and the qualified bidders will be intimated only after the government is satisfied with the responses from the bidders.