Tata Sons wins Air India bid. According to official sources in the Civil Aviation Ministry, out of the two bids made for the sale of Air India, the government selected the Tata Group.
Tata Acquired Air India: Air India, which has taken countless passengers to their destination, has found a buyer for Air India. Tata Sons wins Air India bid. Its formal announcement is yet to be made. According to official sources in the Civil Aviation Ministry, out of the two bids made for the sale of Air India, the government has selected Tata Group. Ajay Singh, chairman of Tata Group and SpiceJet, had made the last bid to buy Air India.
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air india homecoming
- Air India was then renamed as Tata Air Service.
- By 1938, the company had started its domestic flights.
- After the second world war it was made a government company.
- After independence, the government bought 49% stake in it.
Tata Sons will have to bear the debt burden of Rs 23,286.5 cror
Air India has never been in net profit since its merger with Indian Airlines in 2007. Air India is expected to have a loss of around Rs 10,000 crore in the quarter ending March 2021. The company had a total debt of Rs 60,074 crore as on 31 March 2019. But now Tata Sons will have to bear the debt of Rs 23,286.5 crore out of this.
At present, Air India controls 4400 landing and parking slots in the country and 1800 abroad.
