A panel of ministers has reportedly accepted Tata Sons’ proposal to take over Air India
Air India flight. (Image Source: Shutterstock)
The wait is finally over. Tata Sons has won the bid for national carrier Air India, Bloomberg has reported.
A panel of ministers has accepted the conglomerate’s proposal to take over the airline, the report said. An official announcement is expected in the coming days.
Moneycontrol has independently confirmed with sources at the Ministry of Civil Aviation that Tata Sons is indeed the frontrunner for the bid. “The Tatas have placed the highest bid for Air India,” the source said, adding that an official decision on the disinvestment rollout will be taken in the next few days. CNBC TV-18 has reported that the government plans to complete the hand over of the airlines to its new owners by December.
Moneycontrol has reached out to the Tata Sons too and a reply is awaited.
The Tatas have a long history with the national carrier. It was JRD Tata who founded the airlines and piloted the first flight that inaugurated Indian aviation in 1932.
(This is a developing story. Please check back for updates.)