Tata Sons Pvt is set to take over ailing Air India Ltd again, more than half a century after the country’s biggest conglomerate ceded control to the state
(Bloomberg) Tata Sons Pvt. is set to take over ailing Air India Ltd. 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.
The proposed handover is a key victory for Prime Minister Narendra Modi, who has embarked on a bold privatization plan to plug a widening budget deficit.