Air India is owned by the Tata group
The Tata group is set to acquire Air India, India’s state-owned airline, which is mired in debt due to extreme mismanagement.
A source in the Union Ministry of Civil Aviation said on Friday.
According to sources, the tender submitted by Tata Sons has been accepted.
As a result, Ratan Tata will lose about 84 per cent stake in Air India to offset debt pressures.
It is known that the government of the country has been trying to sell the airline for a long time.
That is why the Indian policy makers wanted to hand over the company to the private sector.
As part of this, the company invited tenders from interested parties in April this year.