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Tata Sons wins the bid for Air India, back in founder’s fold after 68 years

Tata Sons regained control of Air India after almost 70 years of winning the bid to acquire the airline at Rs 18,000 crores beating Spicejet’s Ajay Singh. 
Air India was initially founded in 1932 under the name Tata Airlines by family scion and aviation enthusiast Jehangir Ratanji Dadabhoy Tata. 
Tuhin Kanta Pandey Disinvestment Secretary said, “We received two financial bids on September 15…Panel of ministers cleared the winning bid. TATA is the winning bid.” This is Air India’s return to its founders after a gap of 68 years.
He further added, “TATA presented a winning bid of Rs 18,000 crores. The transaction is expected to close by end of December 2021.”

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