Business / Tata Sons wins the bid for acquiring national carrier Air India

Zoom News : Oct 08, 2021, 05:26 PM
Business | After a long wait, once again the command of the government airline Air India has been handed over to the Tata Group. The Tata group had made a bid of about Rs 18,000 crore for Air India. Addressing the media, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) said that Tata Sons's Tales Pvt Ltd has won the bid of Rs 18,000 crore. Tuhin Kant Pandey said the transaction is expected to be completed by the end of December 2021.

What will Tata get: According to the terms of the government, the successful bidder company i.e. Tata will get 100 percent control of Air India in addition to the subsidiary Air India Express. At the same time, 50 percent stake will be captured in AISATS. Let us tell you here that AISATS provides cargo and ground level services at major Indian airports. As per the disinvestment norms, Tata will be allowed to land 4,400 domestic and 1,800 international flights at Air India's domestic airports. At the same time, control of parking allotments will be given.

After about 70 years, again to Tata: The state-owned airline Air India has gone to its old owner, the Tata Group, after about 70 years. Actually, Jahangir Ratanji Dadabhai (JRD) Tata founded this airline in 1932. Then it was called Tata Airline. However, Air India was nationalized in 1953. Thereafter, the company was 100 percent owned by the government. However, due to increasing debt burden, the government started trying to sell stake in Air India for the first time in 2017.

This time the government wanted to sell 75 per cent stake. However, this was not possible. After this, all the concessions were given in the rules of disinvestment and the government agreed to sell its full ownership. Those interested in bidding for Air India were given multiple deadlines to submit applications. The last deadline was September 15. Till this day, Tata Sons and SpiceJet have mainly shown interest in buying Air India. Now the command of Air India has gone to Tata Sons of Tata Group.

Tata's flight in the sky: With this, the dominance of the Tata Group in the sky has increased. Two other Tata Group-owned companies Vistara and Air Asia are also active in the aviation sector. Now the Tata group has a total of three companies that have an airline.

Ratan Tata welcomed like this: With getting the command of Air India, Ratan Tata has welcomed by tweeting. He wrote – Welcome back, Air India. Along with this, Ratan Tata has also shared a picture.