New Delhi: After days of speculations over Air India’s new owner, Tata Sons was on Friday declared the highest bidder. Tata Sons will acquire the debt-laden airline for Rs 18,000 crore and the transaction will be completed by December 2021. The bid was filed by Tata Sons wholly-owned subsidiary Talace Pvt Ltd. Tata Sons was competing with Spicejet promoter Ajay Singh-led consortium whose bid was reportedly placed at Rs 15,100 crore. Tata Airlines is reeling under huge debt of Rs 61,562 crore. Rata Tata’s emotional note on Air India’s homecoming As the national carrier marks return to Tata Group, Ratan Tata posted an emotional note on the home-coming of the airline. Ratan Tata said, “Mr JRD Tata would have been overjoyed had he been in our midst today.” Welcome back, Air India ?? pic.twitter.com/euIREDIzkV — Ratan N. Tata (@RNTata2000) October 8, 2021 The government will divest its 100 per cent stake in Air India, Air India Express and 50 per cent stake in ground handling company AISATS.
