The wait is finally over. Tata Sons has won the bid for national carrier Air India, report indicated.
A panel of ministers has accepted the conglomerate's proposal to take over the airline, the report said. An official announcement is expected in the coming days.
Ministry of Civil Aviation said that Tata Sons is indeed the frontrunner for the bid. "The Tatas have placed the highest bid for Air India," the source said, adding that an official decision on the disinvestment rollout will be taken in the next few days. According to the report government plans to complete the handover of the airlines to its new owners by December.
Tata Sons didn’t comment on this bid victory So far, a reply is awaited.
The Tata’s have a long history with the national carrier. It was JRD Tata who founded the airlines and piloted the first flight that inaugurated Indian aviation in 1932.