The Tata group has won the bid for the national carrier Air India. Tata Sons, the holding company of the Tata group, placed a winning proposal of Rs 18,000 Crore as the Enterprise Value of Air India.
In addition, the Tatas will own 100% of Air India (a full-service airline operating domestically and internationally), 100% of Air India Express (a low-cost carrier focusing on short-haul international operations, particularly in the Middle East), and 50% of the joint venture Air India SATS (airport services on ground and cargo handling). Air India and AIXL have 13,500 regular and contract employees.
“At the Tata group, we are thrilled to be designated the winner of the bid for AIR INDIA,” stated N. Chandrasekaran, Chairman, Tata Sons Pvt Ltd. It will be an honor for our group to own and operate the country’s flag carrier airline. To establish a world-class airline that makes all Indians proud. To honor JRD Tata, the pioneer of Indian aviation, whose memory we revere.
The Tatas will own Air India, Indian Airlines, and the Maharajah. Air India has 117 wide-body and narrow-body aircraft, and AIXL has 24. Air India owns a large number of these planes.
Air India has a distinctive international footprint. More than two-thirds of Air India’s income originate from outside. India’s leading participant in the worldwide market, with substantial presence in North America, Europe, and the Middle East. This program has more than 3 million subscribers.