Tata Sons wins bid for Air India


Guwahati: 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.

Tata sons had submitted the final bid for the airline on September 15 and emerged as the frontrunner to acquire the airline.

A panel of ministers led by Union Home Minister Amit Shah accepted the conglomerate’s proposal to take over the airline.

As per reports, Tata Sons had submitted the highest bid of Rs 3,000 crore, which more that the minimum reserve price set by the government committee.

All the formalities for the handover to its new owner will be completed by December, reports stated.