The government has accepted the bid of Tata Sons. The government had called a tender to sell the entire 100% stake in it. The government will also sell 50% stake in Air India’s second company Air India Sats (AISATS).
The committee that has been formed for Air India includes Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Aviation Minister Jyotiraditya Scindia. According to sources, the reserve price of Air India was fixed at Rs 15,000 to Rs 20,000 crore.
Air India was started by the Tata Group in 1932. JRD of the Tata Group Tata was its founder. He himself was a pilot. By 1938 the company had started its domestic flights. After World War II, it was made a government company. After independence, the government bought 49% stake in it.
