Tata Sons will retake Air India as the government accepted its winning bid of Rs 18,000 crore to acquire 100 per cent of the state-run carrier
Air India has been in losses since its 2007 merger with Indian Airlines. Over the last decade, more than Rs 1.10 lakh crore was infused by way of cash support and loan guarantees to keep it afloat
The bidding conditions provide for Tatas to retain all employees of Air India for one year from the close of the transaction and can offer VRS in the second year
Tatas cannot transfer Air India India brand or logo for five years and thereafter can do so only to an Indian entity
Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932. It was called Tata Airlines then
Air India will be the third airline brand in the Tatas’ stable. It holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd.
Air India provides a unique and attractive international footprint. More than two-thirds of Air India’s consolidated revenues come from the international market