Tata Sons to take over Air India, wins bid at ₹18,000 crore; staff to be retained for 1 year

Tata Sons has emerged as the winner in the Air India bidding at ₹18,000 crore and will be taking over the debt-laden airline. The finance department assured that there will be no sacking of the employees for a year. With this, the airline will go back to the Tatas who have a long history with the national carrier. JRD Tata founded the airline in 1932 and it was at that time called Tata Airlines.

Tata Sons bid ₹18,000 crore for the government’s 100% stake in Air India, a finance ministry official told reporters. The bid by the consortium led by SpiceJet chairman Ajay Singh was ₹15,100 crore.