May 25, 2024 23:56 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
INDIA bloc performing mujra for vote bank, says Prime Minister Narendra Modi launching a scathing attack on opposition parties | West Bengal, Odisha brace for impact of Cyclone Remal, check the latest update on landfall time | Take care of your country: Arvind Kejriwal snubs Pakistan leader's post on Lok Sabha polls | Bangladeshi MP Anwarul Azim was honey-trapped; killers were paid Rs. 5 cr for his gory murder: Cops | NIA arrests another key conspirator in Bengaluru Rameshwaram Cafe blast case
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

| @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.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.