Tata wins bid to take over Air India, iiQ8 News
Tata wins bid to take over Air India, iiQ8 News
Welcome back, AirIndia 🛬
Tata wins bid to take over Air India for $2.4b
Tea-to-software Indian giant Tata is buying back Air India, 89 years after founding it
Tea-to-software Indian giant Tata is buying back Air India, 89 years after founding it as Tata Air and half a century following its nationalisation, the government said Friday.
The 180-billion-rupee ($2.4-billion) deal marks the end of a lengthy effort to privatise the heavily-indebted flag carrier that according to the government has eaten up 1.1 trillion rupees ($14.7 billion) in public money since 2009.
The airline was founded in 1932 with the first flight piloted by Tata's eponymous chairman himself JRD Tata, flying mail and passengers in a single-propeller de Havilland Puss Moth from Karachi to Bombay, as the city was known then.
Tata Air offered a slice of the high life with Bollywood actresses in its adverts and at one point commissioning Spanish sur…
Read more
about Tata wins bid to take over Air India, iiQ8 News