India sells struggling Air India back to Tata group in $2.4bn deal

MUMBAI: Tea-to-software Indian giant Tata is buying back Air India, 89 years after founding it as Tata Air and half a century following its nationalisation, the government said on Friday. The Rs180 billion ($2.4bn) deal marks the end of a lengthy effort to privatise the heavily-indebted flag carrier that according to the government has eaten up Rs1.1 trillion in public money since 2009. The airline … Continue reading India sells struggling Air India back to Tata group in $2.4bn deal