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Tata Sons win Air India bid

Date: 11 October 2021 Tags: Miscellaneous
  • Tata Sons will regain control of Air India as it takes over 100 per cent of the government’s stake in the national carrier.
  • The conglomerate placed a winning bid of ? 18,000 crore, of which ? 2,700 crore will be paid in cash and the remaining ? 15,300 crore will be the absorbed from the over ? 60,000 crore debt the airline had as of August 31, 2021.
  • The government, in 1953, had taken control of the airline from the Tata Group, which founded the carrier as Tata Airlines in 1932.