Tata Sons has been selected as the winning bidder for Air India
Air India's return to the Tata Group marks a new dawn for the airline, Civil Aviation Minister Jyotiraditya Scindia said today after the salt-to-software conglomerate won the bid for the national carrier.
"Air India's return to @TataCompanies marks a new dawn for the airline! My best wishes to the new management, and congratulations to @SecyDIPAM & @MoCA_GoI for successfully concluding the difficult task of paving a new runway for the airline to take off!," the minister tweeted.
"I hope the airline will continue to deliver on its mission of bringing people closer through its successful operations," he added.
Tata Sons was selected as the winning bidder for Air India, ending decades of attempts to privatise a debt-laden airline, and potentially ending years of taxpayer bailouts that kept it running.
Tata Sons, which originally launched Air India Ltd. with a namesake branding in 1932, bid Rs 18,000 crore as an enterprise value for Air India, Tuhin Kanta Pandey, top bureaucrat at the Department of Investment and Public Asset Management, said at a briefing on Friday. The government aims to complete the transaction by the end of 2021.