New Delhi| The Center on Friday declared Tata Sons subsidiary Tales as the highest bidder for national carrier Air India as part of the disinvestment process. Addressing the media, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) said that Tata Sons’ Tales Pvt Ltd has won the bid of Rs 18,000 crore. Tuhin Kant Pandey said the transaction is expected to be completed by the end of December 2021.
There were only two bidders in the final stage of disinvestment.
For a long time, the Government of India was trying to privatize Air India, but the process did not move forward in this direction. Now finally the government’s effort to complete the process of disinvestment of debt-ridden Air India has succeeded.
With this, the dominance of the Tata group has increased in the sky. Two other Tata Group-owned companies Vistara and Air Asia are also active in the aviation sector. Now the Tata group has a total of three companies that have an airline.
Ratan Tata expressed his happiness by tweeting as soon as he got the command of Air India. Sharing a picture along with the tweet, he wrote, “Welcome back, Air India.”
