TATA to acquire AirIndia

NewDelhi, June 22: A history may soon take place. A private company is in talks with the to acquire 'Air India'. the airlines is a government owned company. Currently, the company is in huge losses and the government has hinted that it may soon privatize it.

Sources say that the TATA Group along with Singapore Airlines is interested in making a deal with the government. Earlier the airlines were owned by Tata before it was nationalized in 1953.



Company chairman N Chandrasekaran has held informal talks with the government and expressed his interest in buying 51 % stake and the rest 49 % by Singapore Airlines.The government feels that it would be better to privatize the company to an Indian company rather than a foreign company. The talks assume significance because recently union minister Jayant Sinha said that cabinet would soon take a final call on the privatization of the airlines.

Let's hope that deal will be finalized so that taxpayers money would be effectively utilized.