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India To Sell Air India to Tata Conglomerate

In this file photo taken on September 10, 2018, Air India planes are pictured at Indira Gandhi International airport in New Delhi. Sajjad HUSSAIN / AFP

 

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The Indian government has agreed to sell the heavily-indebted Air India to the Tata conglomerate for 180 billion rupees ($2.4 billion), the finance ministry said Friday.

Tuhin Kanta Pandey, head of the government privatisation department, said that Talace Pvt Ltd, a subsidiary of the Tata conglomerate, won the bidding for the airline.

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“The transaction is expected to close by end of December 2021,” he added.

AFP

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