Air India Bid

Tata Sons Group Buys Air India With A Bid Of Rs 18,000 Crores

Tata Sons will recover control of Air India because it has grabbed over the government’s 100% stake in the national airline, marking the end of the long-term struggle to sell the airline and the first step in the center’s large-scale privatization drive. The Mumbai-based conglomerate won the bid of 18,000 crores, of which 2,700 crores will be paid in cash, and the remaining 15,300 crores will be absorbed from the airline’s debt of more than 60,000 crores as of August 31, 2021.