Report by : Gan Yung Chyan, KUCINTA SETIA
According to Indian media The Economic Times on 8 October 2021, Tata Group has won the bid to take over Air India for Rs 18,000 crore, marking an end to the Indian government's bid to privatize the national flag carrier.
Out of the Rs 18,000 crore to acquire Air India from the government, 15% will go to the government and the rest will go in clearing debt. Tata Group will own 100% of the government stake in Air India.
Air India will be Tata Group's fully-owned airline subsidiary.
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