New Delhi: Marking an end to speculations on who will acquire India’s national carrier, Tata Sons has been adjudged the highest bidder for the airline.
Government today made an announcement in this regard and said that Tata Group will acquire the Maharaja by 2022.
This marks an end of repeated bail-out of the beleaguered airline by the successive governments and also one of the successful divestment of a public sector behemoth.
Tata Sons wins the bid for acquiring national carrier Air India pic.twitter.com/XgAW5YBQMj
— ANI (@ANI) October 8, 2021
With bidding process over, government has sold its entire stake in Air India. Tata Group already has ownership in 2 airlines, aout 84% stake in AirAsia India and 51% in Vistara.
Tatas get control after 60 years
This is a historic moment for the Tata Sons as well as the Air India as the national carrier goes back to its original owner after a big gap of 60 years.
Over the years, government has trying hard to sell the money guzzling airline but failed in its attempt.
The embattled airline is reeling under a debt of Rs 60,000 crore. The debt-laden airline currently operates 127 aircraft, controlling 50.64% of the International market share and serves 42 international destinations.
