The central government has made a key announcement on the privatization of Air India. Tuhin Kanta Pandey, secretary, Central Investment and Asset Management Division (DIPAM), on Friday said that Tata Sons has been selected as a successful bidder.
Over the last few days, it has been reported that the bid filed by Tata Sons is the most attractive of all. With the latest centre announcement, all those speculations have come true. After a gap of 68 years, the debt-laden national carrier returned to its founders Tata Sons.
In addition to its 100 percent stake in Air India, its subsidiary Air India Express will also be solely owned by Tata. Tatas also owns 50 percent stake in ground handling company Air India SATS Airport Services Private Limited.
Tata Sons chairman emeritus Ratan Tata today tweeted an old photograph of JRD Tata getting down from the aircraft, minutes after Tata Sons regained control of the government airline.
“We also need to recognise and thank the government for its recent policy of opening select industries to the private sector. Welcome back, Air India!” the Tata Sons chairman emeritus tweeted.
Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932. It was called Tata Airlines then.