Tata Sons is set to take over ailing Air India again, more than half a century after the country’s biggest conglomerate ceded control to the state, ending the government’s hold over an airline that for decades defined the lofty ambitions of a newly independent nation.
Panel of ministers accepted a proposal from bureaucrats who recommended the conglomerate’s bid ahead of an offer from entrepreneur Ajay Singh according to people with knowledge of the matter, who asked not to be identified as the decision isn’t yet public. An official announcement is expected in the coming days two of the people said. Department of Investment and Public Asset Management secretary Tuhin Kanta Pandey said the approval of Air India’s sale was incorrect. A civil aviation ministry spokesperson didn’t immediately respond to a request for comment. A finance ministry spokespersons couldn’t immediately be reached.