Air India, a state-owned company, has been operating at a loss of revenue for the past few years.
In this context, the central government intensified its efforts to sell Air India in April last year. The Tata Group has expressed interest in acquiring Air India. Tata Group’s Talasi Pvt.
In this context, today Air India was fully and formally handed over to Tata. Tata Sons Chairman N Chandrasekaran said that the company was “happy” to have Air India back in its possession after the complete handover of Air India. He added that the company is looking forward to working to provide “world-class airline service.”
“We are pleased to complete the handover of Air India & look forward to working with all to provide world-class airline service as Air India rejoins the Tata Group,” he was quoted as saying by news agency ANI.
Tata Airlines was started by Jehangir Ratanji, a renowned businessman and India’s first business licensed pilot. The Tata Group-Air India relationship dates back to 1932. Tata expanded its passenger flights overseas in 1938.
The name of the airline founded by Tata was changed to Tata Air Tata Airlines. The renowned airline operated in support of the British Royal Air Force in Burma during World War II.
After the war, the airline changed its name. It was then that the central government of ‘Air India’ soon acquired a 49 per cent stake in Air India. The government acquired Tata Sons in 1953 through the Aviation Act and nationalized it.
ALSO READ | Privately owned Air India … sold for Rs 18000 crore
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