New Delhi: Tata Sons is all set to acquire Air India after winning the final bid for the airline. However, there has been no official announcement regarding the same.
On September 15, Tata Sons had submitted the final bid for Air India airlines to become the winner and is all set to acquire the airlines.
The proposal of Tata Sons to take charge of the airlines was accepted by a panel of ministers which was led by none other than Union Home Minister Amit Shah.
According to sources, the minimum reserve price set by the government for the airlines was exceeded by the Tata Group by a large margin who submitted the highest bid amounting to Rs. 3,000 crores.
The airlines will likely be handed over to Tata Sons by December after the completion of all formalities.
Speaking to the media, former Air India director Jitendra Bhargava said that the government will permit the Tata Group to acquire the airlines as the have enough capital that will be required to revive Air India airlines.
Bhargava added, "Tatas have been very, very passionate about Air India."
Air India was established in 1932. The airline was originally called Tata Airlines and was established by the legendary industrialist and philanthropist JRD Tata. It is to be mentioned that JRD Tata was also India's first licensed pilot.
The airline was nationalized around the time of India's independence in 1947.
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