Air India Maharaja goes to Tatas


Tata Sons has won the final bid for acquiring national carrier Air India, according to government sources. The salt-to-software conglomerate had submitted the final bid for the airline on September 15 and emerged as the frontrunner to acquire the airline.

While Spice Jet government sources have confirmed that Tata Sons submitted a higher offer for acquiring the airline. Sources said a ministerial panel led by Union Home Minister Amit Shah approved the bid submitted by Tata Sons.

The news comes a day after a report indicated that the government finalised the minimum reserve price for the airline.

The government had finalised the minimum reserve price for the national carrier, based on future cash flow projection, brand value and slots in foreign airports.

There are reports that the bid submitted by Tata Sons was Rs 3,000 crore more than the minimum reserve price set by the government committee.