Tata Group Regains Control of Debt-Laden Air India

70 years after Air India was pushed into public ownership when the shares of its storied founder, JRD Tata, were bought by the State in independent India's nationalization fervor, now heavily indebted Air India has formally returned to private ownership by JRD Tata's family business empire, Tata Sons, ending a privatization process that ran for years. Tata Sons paid $2.4 billion and assumed 25% of Air India's $8.2 billion debt. LCC Air India Express is part in the sale. (apnews.com) Mais...