The Indian government announced that Tata father and son will officially acquire Air India

Original title: the Indian government announced that Tata father and son will officially acquire Air India
Xinhua news agency, New Delhi, October 8 (reporter Zhao Xu) - the Indian government announced on the 8th that India's Tata father and son company will officially acquire Indian Airlines, which will complete the process of returning Indian Airlines from state-owned enterprises to privatization.
The Indian Ministry of Finance announced on the same day that Tata and his son will buy Indian Airlines with 180 billion rupees (about 75 Indian rupees per dollar), and the transaction will be completed by cash payment and debt repayment. Tata and his son will bear the debt of Indian Airlines of 153 billion rupees and pay 27 billion rupees in cash to the government. The overall acquisition plan includes 100% shares of Air India, Air India Express and 50% shares of relevant aviation ground service institutions. It is expected that all transactions will be completed by the end of December this year.
It is reported that as of August 31 this year, the total debt scale of Indian Airlines was 615 billion rupees. After the acquisition, the remaining debt will be taken over by the Indian government.
According to Indian media reports, Air India was founded in 1932, formerly known as Tata airlines, and was nationalized by the Indian government in 1953. Due to poor management, the debt scale of Indian Airlines has been expanding in recent years. Previously, the Indian government repeatedly tried to sell some shares of Air India and tried to gradually privatize it, but failed to make progress. Last January, the Indian government officially announced the sale of all shares of Indian Airlines through bidding. (end)