New Delhi: The Union government yesterday officially handed over Air India to Tata Group. Following this, the airline, which was started by JRD Tata, has come under the control of Tata management again after 69 years.
JRD Tata, the former Chairman of Tata Company, launched the country’s first private airline in 1932. Operating under the name ‘Tata Airlines’, these aircraft were originally used only for letter and freight transport. Then started passenger air service from 1935.
It was renamed Air India in 1946 after Tata Airlines became a public sector company. Then in 1953, under the Aviation Act, Air India was nationalized by the then Prime Minister Jawaharlal Nehru. However, JRD Tata was its chairman until 1977. In 1994-95, the Central Government gave permission to private companies to start flights.
Many private companies that started after this operated passenger flights at cheap rates. Thus Air-India began to face a loss of revenue. Debt Crisis Air-India went into debt as losses began to rise in the following years.
The auction for sale of Air India was announced in April last year. Tata and ‘SpiceJet’ participated in the auction. On October 8 last year, it was announced that the Tata Group had bid Rs 18,000 crore for Air India. Tata Motors has signed an agreement with Air India to accept a loan of Rs 15,300 crore and pay the remaining Rs 2,700 crore to the Central Government.
The formal handover of the company was expected to be completed by December last year. However, the work was postponed to January 2022. Air India was officially handed over to Doles Pvt. Ltd., a subsidiary of the Tata Group, at its Air India headquarters in Delhi.
The handover took place in the presence of Chandrasekaran, Chairman, Tata Group, and Duhin Kanda Pandey, Secretary, Department of Investment and Public Property Management, Government of India. Ended.
Tata has paid Rs 2,700 crore in full to the central government. Following this, Air India was completely handed over to the Tata Group. It is now owned by Dallas Pvt. Ltd., he said.
Tata Group Chairman Chandrasekaran said: “We are pleased to announce the completion of the acquisition of Air India. 69 years later, Air India is back in our hands. I welcome all Air India employees to our team. We will all work together and make sure to work hard to provide people with a world-class air travel experience.
We will fulfill the Prime Minister’s objective of making air travel cheaper and making people’s lives easier for the common man. Prior to the handover, Tata Group Chairman Chandrasekaran met Prime Minister Narendra Modi in New Delhi and thanked him.
Prosperous change! Congratulations to the new owners of Air India. I hope this change will pave the way for a prosperous and strong passenger aviation service in our country, flourishing under the wings of the new administration.
Jyotiraditya Cynthia
Union Minister of Civil Aviation, BJP
Quality food on planes
Tata Motors has been involved in improving the quality of food served on Air India flights since the handover. It is also planned to broadcast the voicemail message of Ratan Tata, Honorary Chairman of the Tata Group, on flights before the first flight departs today. An ‘e-mail’ has been sent on behalf of Tata to all the employees working inside the aircraft.
In it, ‘The next seven days are very important. We need to change everything, including the look and feel of our company. ‘ Banks Credit The SBI-led Banks Group has approved a loan to the Tata Group to help run Air India without any problems. The group of banks includes SBI, Punjab National Bank, Bank of Baroda and Union Bank of India.