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Air India Returns To The Tatas

After 67 years, Air India heads back to founder Tata Group....

After its sale, the government will get around Rs 2,700 crore cash from Tatas, the DIPAM Secretary said, adding that Tatas will take over of Rs 15,300 crore debt while the rest it'll pay in cash. After a wait of almost 67 years, the Tata Group has finally won the bid to take back the reins of state-owned Air India. The government decided to sell 100 per cent stake in Air India, which had a total debt of Rs 61,562 crore as of August 31. The conglomerate, which outbid consortia led by SpiceJet founder Ajay Singh, emerged as the front-runner on the reserve price fixed by a panel of government secretaries. The loss-making airline will be finally sold to one of India's biggest business houses with deep financial power, after several attempts in the last two decades.

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