Air India returns to Tata Group after 69 Years
After a gap of 69 years, Tata Sons have won the bid to acquire debt-laden national carrier Air India offering Rs 18,000 crore for acquiring 100% shareholding on October 8 last year.
Insight Bureau: Tata Group has officially taken over Air India from the Government of India on Thursday, shortly after Tata Sons Chairman Natarajan Chandrasekaran called on Prime Minister Narendra Modi.
After a gap of 69 years, Tata Sons have won the bid to acquire debt-laden national carrier Air India offering Rs 18,000 crore for acquiring 100% shareholding on October 8 last year.
Expressing his happiness over the development, Chandrasekaran said he was delighted that Air India’s takeover process is complete.
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It is pertinent to mention here that Air India was started by the Tata Group in 1932 under the leadership of Jehangir Ratanji Dadabhoy Tata, fondly known as JRD Tata, the first chairman of Tata Group. However, after India got independence, the airline was nationalised in 1953.
#AirIndia finally goes back to the #TataGroup on Thursday after 69 years of being a government organization.
Tatas take over Air India at Rs170 crores after the government made the terms of the debt less onerous for the buyer.#TNI #Insight #TheNewsInsight pic.twitter.com/RybBEeWyyu
— The News Insight (@TNITweet) January 27, 2022
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