Hinduja and US-based Interups join race to acquire cash-strapped Air India

NY-based fund wants govt to include maintenance unit in deal

The Hinduja Group and Interups , the US-based fund, have decided to join the race to acquire Air India, even as the central government prepares the bid document for the loss-making airline’s sale.

The Hinduja Group had earlier evinced an interest in taking over Jet Airways, but did not make a formal bid as it felt Air India offered better opportunities. “We are looking at Air India and will take a decision once the bid documents are in place,” said a source.

The transfer of Rs 29,500 crore of Air India’s debt to a special purpose vehicle — Air India