New Delhi, Oct 1 (TIWN) The new owners of Air India will be decided in the next few days as the financial bids for the flag carrier are being scrutinised, sources said on Friday.

Besides, conglomerate Tata Sons, which is one of the bidders, is touted to be the frontrunner to get hold of the carrier.

Earlier, Tata Sons backed SPV and industrialist Ajay Singh, in his personal capacity had sent in their financial bids.

Accordingly, sources said that the two bids are being scrutinised against a reserve price set for the airline.

The process will not go ahead if the bids come in short of the reserve price.

On the official front, DIPAM Secretary Tuhin Kanta Pandey on Friday tweeted: "Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken."