Tata group regains control of debt-laden Air India

Published January 27, 2022 3:05 AM

By ASHOK SHARMA
Associated Press

NEW DELHI (AP) — Tata Sons, India’s oldest and largest conglomerate, has regained ownership of the country’s debt-laden national carrier Air India. Tata launched Air India in 1932 and it was taken over by the government in 1953. Tata Sons Chairman N. Chandrasekaran met with Prime Minister Narendra Modi on Thursday ahead of a meeting with Air India officials. In October, Tata Sons’ 180 billion rupee, or $2.4 billion, bid for the carrier prevailed over a smaller bid by India SpiceJet chief Ajay Singh. As part of its economic reform agenda, the Modi government has pledged to sell more than a dozen loss-making government-run companies. An initial sale attempt by the government in 2018 failed to attract any bidders for Air India.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

News Channel 3 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.