It will take ‘considerable effort’ to rebuild the debt-laden airline, says Ratan Tata.
After 68 years, Air India is all set to return to the Tata fold. Tata Sons subsidiary Talace Pvt Ltd emerged as the winning bidder for the debt-laden national carrier after quoting an enterprise value of ₹18,000 crore. The government will take a hit of ₹28,844 crore.
The Tatas will own 100% stake in Air India, as also 100% in its international low-cost arm Air India Express and 50% in the ground handling joint venture, Air India SATS. Apart from 141 planes and access to a network of 173 destinations including 55 international ones, Tatas will also have the ownership of iconic brands like Air India, Indian Airlines and the Maharajah.