New Delhi: Air India will be Tata’s after 70 years. According to a Bloomberg report, Tata Sons has won the bid. The report said that a panel of ministers has accepted the proposal to take over the airline. An official announcement is expected in the coming days.
However, this has not been confirmed by the Civil Aviation Ministry yet. If this happens, then the debt-ridden public sector airline Air India will once again go into the hands of the Tata Group. Actually, the last date for bidding for Air India was September 15. Tata Sons was also included in the bidding companies for this airline. It is worth mentioning that JRD Tata started Tata Air Services in 1932, which later became Tata Airlines and on 29 July 1946 it became a public limited company. .
In 1953, the government acquired Tata Airlines and it became a government company. Now once again Tata Sons of Tata Group has shown interest in this airline. If it is confirmed that Tata has won the bid, then after nearly 70 years, Air India will once again come to the Tata Group. Tata Sons holds 66 per cent stake in the group, and is a major stakeholder of the Tata group.
The central government is looking to sell its 100 per cent stake in the state-owned airline, which includes Air India’s 100 per cent stake in AI Express Ltd and 50 per cent stake in Air India SATS Airport Services Pvt Ltd. The airline has been making losses since its merger with domestic operator Indian Airlines in 2007. The government has been trying to disinvest Air India since the year 2017. Since then, on many occasions, the efforts have not been successful.