With the CCI approval, can we now say that the Air India sale to Tatas is through?
Answer
Answer
The CCI approval was the last step and Tatas have got the go-ahead from the Competition Commission of India for the acquisition of Air India. The acquisition will be routed through Talace, an affiliate of Tata Sons. Apart from the aviation business, Talace will also acquire stake in Air India Express and Air India SATS Airport Services.
Tatas had placed the winning bid of Rs.18,000 crore. While the total debt of Air India stands at a whopping Rs.61,560 crore, the acquirer Talace will only assume Rs.15,300 crore of debt. Turnaround around Air India will be the bigger challenge.