Tata Sons has emerged as the winner of Air India with winning enterprise value (EV) bid of Rs180bn, split between Rs27bn equity and Rs153bn debt. Tatas will now own complete commercial operations of Air India and Air India Express along with 50% stake in the ground handling company Air India SATS Airport Services Private Limited (AISATS). This makes Tata the owner of three airline operations namely (100% of Air India, 84% of Air Asia India and 51% of Vistara). These three combined entities will now own 26% PAX market share in domestic segment as per FY22-TD statistics.