Tata Sons buy Air India for Rs 18,000 crore

October 08, 2021 16:27

Tata Sons wins the bid for acquiring national carrier Air India. The company had the winning bid for Rs 18,000 crore.

Apart from a 100 per cent stake in Air India and its low-cost arm, Air India Express, the winning bid also includes a 50 per cent stake in ground-handling company Air India SATS Airport Services Private Limited (AISATS).

Earlier this month both Tata Sons and SpiceJet chairman Ajay Singh (in his private capacity) had placed bids.

Reports last month that Tata had won the bid were played down by Union Minister Piyush Goyal, who said then that nothing had been finalised.

In December 2020, the government invited expressions of interest for the divestment of Air India.

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