Tata Group May Buy Major Stake in Air India

The Tata group may buy a major stake in Air India, top sources told CNN-News18 on Wednesday, adding that the group is holding talks with officials from the Civil Aviation Ministry.

Source from the industry said, "There were four conglomerates that were interested in buying the airline. Tata Group being one of them are very keen in buying a major stake in the airline if not for 100%. They are in talks with top ministers at the Centre on the process of buying. Tata Group feels that it's their airline and they want it back."

The reference is obviously to the fact that AI was started by the Tata Group in 1932 as Tata Airlines. After Independence, the group joined hands with the government in 1948 to fly the airline which was fully nationalized five years later.

Read more

  • Share
logoSubscribe now