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Tata Group takes back control of Air India

Government pays back 8.2 billion dollars in losses, privatization after 70 years

After almost 70 years of State ownership, the national carrier Air India (and low-cost subsidiary Air India Express) is back under the control of the Indian conglomerate Tata. The privatization agreement, worth 2.4 billion dollars, was finalized in these days, according to schedule. It is a move that puts an end to a troubled sale process due to the airline's high debt, which lasted several years."The...

Gic - 1241943

AVIONEWS - World Aeronautical Press Agency
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