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Tata Sons wins bid to acquire Air India: Reports Air India
Image Credit: Facebook/Air India

Tata Sons wins bid to acquire Air India: Reports

India Blooms News Service | @indiablooms | 01 Oct 2021, 12:32 pm

New Delhi/IBNS: Indian multinational conglomerate Tata Sons has won the bid to acquire the debt-ridden national carrier Air India, media reports said.

UPDATE: Reports claiming Tata Sons won Air India bid incorrect, says Govt

Tatas had submitted the bid last month.

Union Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Aviation Minister Jyotiraditya Scindia were among the members who evaluated the bids and accepted Tata Sons' proposal.

Along with the conglomerate, SpiceJet founder Ajay Singh had also joined the list of bidders.

The central government has decided to divest its 100 per cent stake in Air India, Air India Express and 50 per cent in ground handling company (AISATS), The Times of India reported.

The Tatas also operate Vistara, a full-service carrier, as a 51-49% JV with Singapore Airlines.

Notably, the group had also bid for Air India in 2001, but the then government had decided not to divest.

In 2013, the Tatas, which founded Air India in 1932 as Tata Airlines, hit the Indian skies with Vistara and AirAsia India, partnering with Singapore Airlines and Malaysia's Air Asia, respectively.