Tata Wins Bid for India’s National Carrier Air India

(News 1st); Tata Sons Pvt. was selected as the winning bidder for India’s flag carrier, ending decades of attempts to privatize a money-losing and debt-laden airline. This move is expected to end years of taxpayer-bailouts that’s kept the company alive. Tata Sons, which originally launched Air India Ltd. with a namesake branding in 1932, was the highest bidder in a Government auction, Tuhin Kanta Pandey, the top bureaucrat at India’s Department of Investment and Public Asset Management, said at a briefing Friday. Tata Sons bid 180 billion rupees ($2.4 billion) as an enterprise value for Air India, Pandey told reporters.