Welcome back Air India: Tata sons

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NEW DELHI: – The government said on Friday that Tata Sons will retake control of Air India after bidding $2.4 billion in total, including stock and debt, bringing an end to years of battle to privatize the financially ailing airline.
A successful sale of the loss-making national flag carrier would be a huge achievement for Prime Minister Narendra Modi, since it has been costing taxpayers about $3 million per day for the previous decade. It would also auger well for planned share sales in a raft of state-run businesses aimed at bolstering government coffers and bringing India closer to being a completely market-driven economy.
Talace Pvt Ltd is a subsidiary of Tata Sons, the holding company for the Tata conglomerate’s auto-to-steel operations.

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