Tata Sons wins bid for Air India, official announcement awaited:

Winning the bid for Air India:

According to Bloomberg , Tata Sons has won the bid for national carrier Air India.

Complete the Handover:

CNBC TV-18 has reported that the government plans to complete the handover of the airlines to its new owners by December.

Long History with the National Carrier:

The Tatas have a long history with the national carrier. It was JRD Tata who founded the airlines with a small capital of Rs 2 lakh given by a reluctant Sir Dorabji Tata, the then Chairman of Tata Sons. 

In 1946, the aviation division of Tata Sons was listed as Air India and, in 1948, the Air India International was launched with flights to Europe. The international service was among the first public private partnerships in India, with the government holding 49% stake in it, the Tatas having 25% and the public owning the rest. 

Seek to sell 100 per cent stake of Air India:

In 1953, Air India was nationalized. But this time, the government is seeking to sell 100 per cent of Air India's stake, the process of which began in January 2020. The process was paused owing to the pandemic and was revived again in April 2021.