Air India was bought by Tata for Rs 18,000 crore.

Air India was bought by Tata for Rs 18,000 crore.

Daily Current Affairs   /   Air India was bought by Tata for Rs 18,000 crore.

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Category : National Published on: October 11 2021

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  • Tata Sons, which founded Air India Ltd. with a name of its own in 1932, offered 18,000 crore ($2.4 billion) as an enterprise value for Air India.
  • Tata Sons Pvt. was chosen as the winning bidder for India's flag carrier, putting an end to decades of attempts to privatise a losing and indebted airline, as well as potentially ending years of taxpayer bailouts that have kept the company afloat.
  • Air India was founded in the 1930s by legendary industrialist and philanthropist JRD Tata, India's first licenced pilot. The airline initially flew mail between Karachi in then-undivided, British-ruled India and Bombay, now known as Mumbai.

Important Facts 

About Air India 

  • Old Name: Tata Airlines
  • Air India Mascot: Maharajah (Emperor)  
  • Logo: Flying swan with the wheel of Konark inside it.
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