Tata Sons, the largest India conglomerate, has re-acquired Air India, placing a winning bid of $2.4 billion to gain back control of the airline more than a half-century after it was nationalized by the Indian government. Tata had launched the airline in 1932. Apart from a 100% stake in Air India and its low-cost subsidiary, Air India Express, the winning bid also includes a 50% stake in the ground-handling company Air India SATS Airport Services Private Limited (AISATS). The airline has significant debts, some of which will be taken over by Tata, with the rest transferred to a special purpose vehicle (SPV) formed by the government. The government made an earlier attempt to sell Air India in March 2018, but its expression of interest — to sell a 76% stake — had no takers over concerns regarding the airline’s debt. Despite its financial challenges, Air India still controls more than 4,400 domestic and 1,800 international landing and parking slots at domestic airports, and 900 slots overseas. The airline serves 101 destinations, including 57 domestic routes, and has flights to 33 countries on four continents. The Tata group is a collection of nearly 100 companies that includes the country's largest automaker, the largest private steel company and a leading outsourcing firm.

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