Tata Group, an Indian multinational conglomerate company, completed the acquisition of Air India, a flag carrier airline of India, for $2.4bn. The deal includes acquisitions of Air India's subsidiaries, a 100% stake in Air India Express, and a 50% stake in Air India SATS. “At the Tata group, we are delighted to be declared as the winner of the bid for AIR INDIA. This is a historic moment, and it will be a rare privilege for our group to own and operate the country’s flag bearer airline. It will be our endeavour to build a world-class airline that makes every Indian proud. On this occasion, I would like to pay tribute to JRD Tata, pioneer of Indian aviation, whose memory we cherish,” Natarajan Chandrasekaran, Tata Sons Chairman.