Gujarat Exclusive > National-World > Homecoming for Air India? Tata Sons wins bid to purchase debt-ridden airline: Sources

Homecoming for Air India? Tata Sons wins bid to purchase debt-ridden airline: Sources

0
312

New Delhi: Tata Sons has emerged as the highest bidder for the government-run Air India, according to reports. The bid to purchase the beleaguered national carrier was approved by a ministerial panel led by Union Home Minister Amit Shah, according to sources.

Air India was established in 1932 by JRD Tata. At that time, it was called Tata Airlines. The government took over the airline after independence. It was renamed Air India.

Sources said that AI’s reserve price was likely in the range of Rs 15,000-20,000 crore. Spice Jet, too, had made a bid for the airline, but lost it.

For the past few years, AI has been making massive losses, especially after its merger with the domestic Indian Airlines in 2007.

 

 

To read the latest news in Gujarati click here