Tata Group acquires Air India after winning ₹18k crore bid

Tata Group has acquired Air India after placing a winning bid of ₹18,000 crore for the airline.

The transaction does not include assets like land and buildings, which are valued at over ₹14,000 crore. The same will be transferred to the government.

Talace Private Limited, which is a subsidiary of Tata Sons, had won the bid.

Tata Sons will acquire Air India, 50 per cent of Air India-Sats, and Air India Express. The government will get ₹ 2,700 crore in cash from the Air India sale.

The Air India-Tata deal will go through subject to approval from the Competition Commission of India.