Official Takeover: Tata Group ‘Delighted’ To Have Air India Back
The Indian Airlines or Air India has travelled a lot, right from belonging to the TATA group then going at the hands of the union government and eventually being handed over to where it always belonged – The TATA Group. On Thursday, Air India was officially handed over to the TATA Group shortly after prime minister Narendra Modi called on Tata Sons chairman Natarajan Chandrasekaran.
Your arrival was much awaited, @airindiain. #AirIndiaOnBoard #ThisIsTata pic.twitter.com/OVJiI1eohU
— Tata Group (@TataCompanies) January 27, 2022
Air India strategic disinvestment completed
Read more ?? https://t.co/2Jetgla9JH pic.twitter.com/bXEdAgcIGa
— Ministry of Finance (@FinMinIndia) January 27, 2022
The government on October 8, 2021 completed the disinvestment process of Air India with selling Air India to Talace Private Limited, a subsidiary of the TATA Group on an amount of Rs 18,000 crore. After completing the procedure, Mr Chandrasekaran said: “Totally delighted that Air India’s takeover process is complete. We are very happy to have Air India back in the Tata fold. We look forward to working with everyone,” After the completion, the TATAs will have the control of three major airlines of India and nearly 27% market share in the civil aviation sector. Other TATA airlines include Vistara and Air Asia.
Message from our Chairman N. Chandrasekaran welcoming @airindiain back. #AirIndiaOnboard #ThisIsTata pic.twitter.com/5AmQRMTXWL
— Tata Group (@TataCompanies) January 27, 2022
#AirIndia officially handed over to #TataSons today.
Civil Aviation Minister @JM_Scindia says, it is indeed noteworthy that the disinvestment process of Air India has been brought to a successful conclusion in a time-bound manner. pic.twitter.com/wRmuJkFOy2
— All India Radio News (@airnewsalerts) January 27, 2022
In Air India, the TATAs will now own 100% stake, 100% in its international low-cost arm Air India Express and 50% in the ground-handling joint venture, Air India SATS. However, TATAs would not get hold of non-core assets including the Vasant Vihar Housing Colony of Air India, Air India building in New Delhi and Air India building at Nariman Point. Out of the 141 aircraft of Air India, TATAs will get 42 leased planes while other 99 are owned.
In 1932, TATAs had set up Tata Airlines which was later renamed as Air India in 1946. Though the union government took control of Air India in 1953, JRD Tata continued to remain its chairman till 1977. The homecoming of Air India to TATAs has been done after 67 years.
