Tata Wins Bid for India’s National Carrier Air India

Tata Wins Bid for India’s National Carrier Air India

Tata Wins Bid for India’s National Carrier Air India

Written by Amani Nilar

08 Oct, 2021 | 5:13 pm

(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.

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