New Delhi: The Tata group on Thursday officially acquired Air India from the government. Tata Sons Chairman N Chandrasekaran said, “We are absolutely delighted to have Air India back in the Tata Group.” Chandrasekaran also met Prime Minister Narendra Modi ahead of the official handover.
Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, said, “Formalities have been completed. Air India’s disinvestment transaction has closed. The government has got ₹2,700 crore. The shares have been transferred to the new owner Tales Pvt Ltd. The reward amount has been received. The new owner has accepted a loan of ₹ 1,53,00 crore. The new board is currently meeting.
The successful conclusion of the country’s first major privatization deal in nearly two decades is a major victory for the Narendra Modi government.
The move also marks a homecoming for debt-ridden Air India, which was originally launched in 1932 by former Tata Group chairman JRD Tata as the country’s first carrier.
Now, the Tata group will reportedly make major changes and focus on improving Air India’s on-time-performance. Maximum emphasis will be placed on ensuring that all Air India aircraft take off on time.
The Tata group has also planned several other changes. There will also be a change in the seating arrangement and the dress of the cabin crew. As per reports, Tata is a leading player in the hotel business and will make improving the quality of food in the airline a top priority.
Recorded messages of industrialist Ratan Tata will also be played on board all Air India aircraft.
first published:Jan. 27, 2022, 3:59 pm
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