New Delhi: Tata Sons on Friday won a bid to acquire state-run national carrier Air India, which has been in debt for more than half a century, after handing over control to the government.
According to reports, the salt-to-software conglomerate made a winning bid of Rs 18,000 crore and got back 100 shares of the airline.
Not only 100 per cent stake in Air India and its low-cost arm, Air India Express, Tata’s winning bid also included a 50 per cent stake in ground-handling company Air India SATS Airport Services Pvt Ltd (AISATS).
Soon after winning the bid, Ratan Tata shared a message and a picture on Twitter. “Welcome back, Air India”, he captioned the post.
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