Jet Airways (9W, Mumbai Int'l), its European partner Air France-KLM and US partner Delta Air Lines (DL, Atlanta Hartsfield Jackson) are considering putting in a joint bid for Air India (AI, Mumbai Int'l) sources familiar with developments have told India's PTI news agency. Neither party responded to the report which stated that a total of three entities have so far shown an interest in the sale.

The tentative bid comes as Narendra Modi's government prepares to issue a formal call for Expressions of Interest (EOI) in Air India in the coming weeks. The sale, which is expected to be wrapped up by year-end, will see Air India Ltd.'s subsidiaries being spun off into four separate units ahead of the sale of a 51% stake in each of them.

As per previous reports, Air India and Air India Express will be combined into one company while domestic carrier Alliance Air (India) will occupy another. Groundhandling firm Air India Air Transport Service Ltd (AIATSL) and MRO unit, Air India Engineering Services Ltd AIESL), will occupy the other two companies.