Monday, September 26, 2022
HomeTop StoriesAir India to Tata Sons; Acquired ‌ 18,000 crore

Air India to Tata Sons; Acquired ‌ 18,000 crore

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New Delhi: Tata Sons has acquired Air India for Rs 18,000 crore. The federal government has formally introduced the switch of Air India, a central public sector airline, to the Tata Group. The Tata Group was additionally the very best bidder within the public sale to purchase Air India.

Together with Tata, SpiceJet was additionally on the scene for Air India. The choice was taken at a cupboard assembly chaired by Spice Home Minister Amit Shah.

The switch course of might be accomplished within the 2022 monetary yr. Air India returns to Tata after a spot of 67 years. Tata Air India was established in 1932. It was later taken over by the Heart as a part of nationalization.

The federal government plans to promote 100 per cent stake in Air India and Air India Specific. The federal government will even promote a 50 per cent stake in floor dealing with firm Air India Satus Airport Service Pvt Ltd.

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