Air India goes back to Tata ‘Parivar’
Tata Sons, the holding company of Indian multinational conglomerate Tata Group, has reportedly won the bid for the national carrier Air India, media reports said. The acquisition marks the return of Air India to Tata fold after 67 years.
A panel of ministers has accepted a proposal from officials recommending the conglomerate ahead of an offer from Ajay Singh, the promoter of India's airline operator Spicejet, according to reports by Bloomberg and Moneycontrol.
The Committee of Ministers on the national carrier disinvestment, headed by Home Minister Amit Shah, approved the winning bid for the national airline. An official announcement is expected in the coming days.
But a recent tweet by Secretary, DIPAM that "Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government decision as and when it is taken."
JRD's 46-year aviation career spanned an era from the little 2-seater Puss Moth to the giant Boeing 747
Air India was founded in 1932 as Tata Airlines, and the government nationalised the airline in 1953. The government is selling 100 per cent of its stake in the state-owned national airline, including Air India's 100 per cent shareholding in AI Express and 50 per cent in Air India SATS Airport Services Private Ltd.
(Picture source: TATA)