The Government of India has today announced the name of the new owner of Air India. Talace Pvt Ltd, a unit of the famous Tata Sons, has got this deal for Rs 18 thousand crores. With this, after a gap of almost 68 years, the debt-ridden Air India has returned to its founders Tata Sons. The deal is expected to be completed by this December.
The company made a bid of ₹18,000 crores to regain the airline. According to a web portal report, apart from 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). .According to the report, the process of sale of Air India began in July 2017 and the government had received 7 expressions of interest till December last year. The Department of Investment and Public Asset Management (DIPAM) of the Union Finance Ministry has announced this today. DIPAM Secretary Tuhin Kant Pandey has told that there was a tough competition between the two bidders for the deal.
The DIPAM secretary said Tata’s bid of Rs 18,000 crore includes taking a loan of Rs 15,300 crore and paying the rest in cash. Both the bidders quoted above the reserve price, said they plan to complete the transaction by December. It is believed that after this deal there is a possibility of new progress in the aviation industry.