Finally, Tata Sons won the bid for Air India for Rs 18,000 Crore making Air India have the largest fleet in India.
Reports suggest SpiceJet and Tata Group both bidding for the Airlines and Tata won it for Rs 18,000 Crore, whereas SpiceJet’s Ajay Singh bidding for 15,100 Crore.
Air India was founded by J. R. D. Tata of Tata Sons in 1932 and it grew into an international airline it serves southern and east Asia, the Middle East, Europe, Africa, the United States, and Canada.
The Tata groups welcomed Air India with Ratan Tata tweeted an old photo of an Air India airplane saying “The Tata group winning the bid for Air India is great news. On an emotional note, Air India, under the leadership of J.R.D. Tata had, at one time gained the reputation of being one of the most prestigious airlines in the world
WELCOME BACK, AIR INDIA!”
Welcome back, Air India 🛬🏠 pic.twitter.com/euIREDIzkV
— Ratan N. Tata (@RNTata2000) October 8, 2021
Currently, Air India has a fleet of 127 aircrafts making it the largest airline in India in number of planes. After the bid Air India will own 172 aircrafts, 87 of it’s own and 86 on lease. For a period of one year, Tata Sons will have a share of 51% equity stake and later the Tatas will own 100% in Air India Express and 50% in the joint venture Air India SATS.
Before the bid, the total number of employees in Air India was around 10,00 approx whereas after the bid the total employee stretch will become 13,500.
Air India has a total asset of ₹52,352.18 crores (US$7.3 billion) and as the bid is now final ₹ 46,262 crores will be transferred to Air India. So the Total asset of the Airlines will be 94,614 crores.