The Indian government sold the loss-making national airline Air India to the country’s largest business, the Tata Group.
The government sold its national airline to the Tata Group for ڈالر 2.4 billion on a bid basis.
The airline currently has a deficit of 9 9.5 billion and the government has long wanted to sell it.
According to the BBC, Air India has a number of assets, including specially designated aircraft at London’s Heathrow Airport, as well as thousands of trained pilots and other crew members.
Just minutes after acquiring the airline, Tata Sons chairman Ratan Tata posted a picture of former chairman of the company, Jahangir Ratanji Dadabhai Tata, standing at the airport with an Air India plane.
Welcome back, Air India pic.twitter.com/euIREDIzkV
– Ratan N. Tata (N RNTata2000) October 8, 2021
It should be noted that the airline was founded by the Tata Group in 1932 and in 1953 the Indian government took over the national ownership.