Tata Sons buys ‘Maharajah’ for $2.39 billion from the Indian government
- The salt-to-aviation conglomerate has won the bid to acquire India’s national carrier
Air Indiafor ₹18,000 crore.
- Reportedly, SpiceJet founder Ajay Singh had made a bid around ₹15,100 crore.
- Tatas may now get control of 4,400 domestic and 1,800 international landing and parking slots at domestic airports as well as 900 slots at airports overseas.
AdvertisementTata Sons, the salt-to-aviation conglomerate has won the bid to acquire debt-laden Air India for a whopping ₹18,000 crore ($2.39 billion). Reportedly,
Government has been wanting to privatise Air India for a long time given it has not made profits in reportedly 15 years and struggled to survive amid competition.
Air India will be an addition to the
With this, Tatas may now get control of 4,400 domestic and 1,800 international landing and parking slots at domestic airports as well as 900 slots at airports overseas.
Relishing the acquisition of Air India, Ratan Tata, former chairman of Tata Sons tweeted, ‘Welcome back, Air India’.
Welcome back, Air India 🛬🏠 pic.twitter.com/euIREDIzkV— Ratan N. Tata (@RNTata2000) October 8, 2021
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