India To Sell Air India to Tata Conglomerate

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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

 

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.

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

AFP

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