NEW DELHI: Tata Sons have won the bid to acquire national carrier Air India. The salt-to-software conglomerate placed a winning bid of Rs 18,000 crore. It has reacquired the airline after 68 years after it ceded control to the government. Apart from 100 percent stake in Air India and its lowest cost arm, Air India Express, the winning bid also includes a 50 percent stake in ground-handling company Air India SATS Airport Service Private Limited (AISATS).
Ratan Tata is overjoyed for this victory he took this to his Twitter and congratulates the entire team. “The Tata Group winning the bid for Air India is great news! It will hopefully provide a very strong market opportunity to the Tata Group’s presence in the Aviation Industry,” said Tata.
Tata added, “On an emotional note, Air India, under the leadership of Mr J.R.D Tata had at one time gained the reputation of being one of the most prestigious airlines in the world. Tata’s will have the opportunity of regaining the image and reputation it enjoyed in earlier years. Mr J.R.D Tata would have been overjoyed if he was in our midst today.”
“We also need to recognise and thank the government for its recent policy of opening select industries to the private sector,” Tata further added.
Tata Sons Chairman N Chandrasekaran called it a historic moment. He said it will be a rare privilege for our group to own and operate the country’s flag bearer airline. We will endeavour to build a world-class airline that makes every Indian proud.