TATA group wins the bid of Rs 18,000 Crore as the enterprise value of Air India. Consequent to the acquisition TATA group will own 100% stakes in Air India and 100 % in its subsidiary AirIndia Express 50% in the joint venture Air India SATS.
Mr. N. Chandrasekharan, Chairman Tata Son’s Private Ltd said “At the TATA Group we are delighted to be declared as the winner of the bid for AIR INDIA. This is a historic moment and it will be a privilege for our group to own and operate the country’s flag bearer airline. It will be our endeavour to build a world-class airline that makes every Indian proud. On this occasion, I would like to pay tribute to J.R.D Tata, pioneer of Indian aviation, whose memory we cherish.”
The Tata‘s will get the ownership of Iconic Brands like Air India, Indian airlines, and the Maharajah. Air India has a fleet of 117 wide-body and narrow-body aircrafts and AIXL has a fleet of 24 narrow-body aircrafts. A significant number of these aircrafts are owned by Air India. Air India provides unique and attractive International footprints.
