Tata group will take over control of the government-owned airline Air India. During the sale process for Air India, Tata Sons won the auction by paying the highest price.
Related Post – Viral Singer Yohani of ‘Manike Mage Hithe’ makes her Bollywood debut with the “Shiddat”
Among the bidders was Tata Group for Air India and Ajay Singh from SpiceJet. Governments are selling stakes in Air India for the second time in a row. An attempt was made in 2018 to sell 76 percent of the company by the government, but no response came in.
According to sources, Air India’s disinvestment process will be completed by December 2021. Tata Sons can take over this company by December. Air India had been invited to submit financial bids. The government has also disinvested in this project. The government will also sell its 50 percent stake in ground handling firm AISATS in addition to selling its 100 percent stake in Air India and Air India Express.
Air India was founded by the Tata Group in 1932. It was started by JRD Tata, a very skilled pilot who belonged to the Tata Group.
During World War II, the general aviation industry was established in India, then became a public sector company when it was renamed Air India.
Related Post – Top 5 Reliable Web Development Companies in India 2021
As soon as the country gained independence in 1947, there was a need for a national airline, and the Government of India acquired a 49 percent stake in Air India.
A few years later, in 1953, the government of India passed the Air Corporation Act and acquired the majority stake in the company from Tata Group. As a result, Air India became a government company.
