Tata Acquires Air India: Air India gets buyer, Tata Sons gets command again after 68

[reporter2]

Tata Acquires Air India: Air India gets buyer, Tata Sons gets command again after 68 years

Tata Sons wins Air India bid. According to official sources in the Civil Aviation Ministry, out of the two bids made for the sale of Air India, the government selected the Tata Group.

01 Oct 2021

Air India, which has taken countless passengers to their destination, has found a buyer for Air India. Tata Sons wins Air India bid. Its formal announcement is yet to be made. According to official sources in the Civil Aviation Ministry, out of the two bids made for the sale of Air India, the government has selected Tata Group. Ajay Singh, chairman of Tata Group and SpiceJet, had made the last bid to buy Air India.

Air India homecoming

• Air India was started by the Tata Group in 1932.
• JRD of the Tata Group Tata was its founder.
• Air India was then renamed as Tata Air Service.
• By 1938, the company had started its domestic flights.
• After the second world war it was made a government company.
• After independence, the government bought 49% stake in it.

Tata Sons will have to bear the debt burden of Rs 23,286.5 crore.

Air India has never been in net profit since its merger with Indian Airlines in 2007. Air India is expected to have a loss of around Rs 10,000 crore in the quarter ending March 2021. The company had a total debt of Rs 60,074 crore as on 31 March 2019. But now Tata Sons will have to bear the debt of Rs 23,286.5 crore out of this.

At present, Air India controls 4400 landing and parking slots in the country and 1800 abroad.

[reporter2]

Now Tata Group will be the new 'Maharaja' of Air India, won the bid by paying the highest price

In the sale process of Air India, the Tata group has won the bid by charging the highest price. Ajay Singh of Tata Group and SpiceJet had bid for Air India

October 01, 2021

The state-run airline Air India will go under the control of the Tata Group. In the sale process of Air India, Tata sons have won the bid by paying the highest price.

Ajay Singh of Tata Group and SpiceJet had bid for Air India. This is the second time the government is trying to sell its stake in Air India. Earlier in 2018, the government had tried to sell 76 per cent stake in the company but it did not get any response.

Tata will get it by December

According to sources, the divestment process of Air India will be completed by December 2021. That is, by December this company can be handed over to Tata Sons. The government had invited financial bids for Air India. It is also part of the divestment program of the government. The government will sell its 100 per cent stake in Air India and Air India Express, while 50 per cent stake in ground handling company AISATS.

Tata group started

Air India was started in 1932 by the Tata Group itself. It was started by D. Tata (JRD Tata), he himself was also a very skilled pilot.

Air India became a government company

After World War II, general air service started from India and then it was made a public sector company by naming it Air India. After the independence of the country in the year 1947, the need for a national airline was felt and the Government of India acquired 49% stake in Air India. After this, in 1953, the Government of India passed the Air Corporation Act and bought a majority stake in the company from Tata Group. In this way Air India became completely a government company.