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Air India comes home! AI goes back to the Tatas after 68 years as it wins bid for USD 2.4 billion

Air India comes home! AI goes back to the Tatas after 68 years as it wins bid for USD 2.4 billion

Megha Paul

- October 8, 2021

In a new dawn for the Indian airlines industry, the national carrier Air India has gone back to its original founders. The Tata Sons won the bid to acquire the airline today. The Tatas placed a winning bid of INR 18,000 crore (USD 2.4 billion) to re-acquire the carrier more than half a century after it ceded control to the government.

The winning bid includes a full 100 per cent stake in Air India and its low-cost arm, Air India Express and 50 per cent stake in ground-handling company Air India SATS Airport Services Private Limited (AISATS).

Civil Aviation Secretary Rajiv Bansal said that the winning bidder will not retrench any employee for minimum period of one year and if retrenched after a year, they will have to be offered VRS (voluntary retirement scheme).

The government has also mandated Tatas to use the name and logo of Air India for a period of five years.

Earlier this month both Tata Sons and SpiceJet chairman Ajay Singh (in his private capacity) had placed bids. As on 31 August 2021, Air India has a total debt of INR 61,562 crore, out of that INR 15,300 crore will be taken over by the bidder.

In December 2020, the government invited expressions of interest for the divestment of Air India.

May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

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Air India comes home! AI goes back to the Tatas after 68 years as it wins bid for USD 2.4 billion

Megha Paul

- October 8, 2021

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May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

Stay riveted for our next gala event, The Brand Travel Daily Media Travel Excellence Awards that recognizes and celebrates the outstanding achievements of companies and individuals in the travel, airline, and hospitality industry. They are scheduled to take place in 11 October, 2024

For inquires, to attend or sponsor next awards, kindly email here: Gary@traveldailymedia.com

If you know of any female leaders or up and coming superstars in the Travel and Hospitality industry you would like to nominate, please visit our page and complete a nomination form!
The prestigious IWTA Awards 2024 Award Winners are listed below:

content studio box

…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign.

We can also organise a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

x Studio

Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats