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TATA Sons Acquire Air India At Rs 18,000 Crore After 68 Years

 New Delhi,FAST MAIL – Finally Tata Sons has won the bid to acquire  Air India.

The TATA sons placed a winning bid of ? 18,000 crore re-acquire the airline more than half a century after it ceded control to the government.

Apart from 100 per cent stake in Air India and its low-cost arm, Air India Express, the winning bid also includes a 50 per cent stake in ground-handling company Air India SATS Airport Services Private Limited (AISATS).

How ever,the government on Friday denied media reports claiming that Tata Sons have won the bid to acquire debt-laden carrier Air India.

Finally, after 68 years, Tata Group acquired  Air India, the government has accepted the bid of Tata Sons. The government had called for tenders to sell 100 per cent stake in it. At the same time, the government sold  50 per cent stake in Air India Sats, another Air India company.

 

 According to sources, the reserve price of Air India was fixed at Rs 15,000 to 20,000 crore. The Tata group had bid more for Air India than SpiceJet chairman Ajay Singh. Thus, after almost 68 years, Air India has returned home. The last date for bidding for Air India was September 15, 2021. Ever since then, it has been speculated that the Tata group could buy Air India.

TATA group won the bid at ? 18,000 crore at last.

Tata started Air India in 1932

The Tata Group started Air India in 1932. JRD Tata of Tata Group was its founder. JRD Tata himself was the pilot. At that time it was named Tata Air Service. By 1938 the company had started its domestic flights. It was made a government company after the Second World War. After independence, the government bought a 49 per cent stake in it.

It may be mentioned that the committee formed for disinvestment of Air India includes Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal and Civil Aviation Minister Jyotiraditya Scindia.

 

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