Tata Sons will now be the new owners of Air India. The company bought the state-owned airline at a bid of Rs 18,000 crore, beating SpiceJet’s Ajay Singh in the race. In addition, Tata Sons will now have 3 airlines in the country.
Air India has returned to Tata Sons after 68 years. For this, the highest bid was made by the government, with Tata Sons being the highest bidder. Tuhin Kant Pandey, Secretary, Department of Investment and Public Property Management (DIPAM), said the committee of ministers had approved the winning bid for Air India.
The government is selling its 100% stake in Air India. The airline has been running at a loss since its merger with Indian Airlines in 2007. The government has been trying to disinvest Air India since 2017. But since then, on many occasions, the efforts have not been successful. The government will get Rs 2,700 crore in cash from Tata for selling 100 per cent stake.