Struggling Indian airline sold to Tata sons

Air India has been haemorrhaging money for years.

India's loss making national carrier Air India has been sold to the Tata group, the country's largest conglomerate.

The government has sold the airline to the company, which was the highest bidder at nearly $2.4bn (£1.7bn).

The Tata group originally founded the airline in 1932 before it was taken over by the government in 1953.

The government had for years been trying to sell the airline, which has racked up losses worth $9.5bn.

But it recently sweetened the deal by making the terms of the debt less onerous for the buyer. It's still unclear how much debt the Tata group will take on under the new terms.

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