Air India officially handed over to Tata Group by Govt of India on Thursday

Jan. 27: Air India was officially handed over to Tata Group on Thursday, nearly 69 years after its nationalisation. Tata Group won the bid to buy the airline, which it founded in 1932 for Rs. 18,000 crore. The Tata group had founded Air India as Tata Airlines in October 1932. The government nationalised the airline in 1953. The transaction covers three entities – Air India, Air India Express and AI SATS.

After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited, a subsidiary of the Tata Group‘s holding company. Post the process completion, Tata Sons Chairman N  Chandrasekaran expressed, “We’re totally delighted that this process is complete and happy to have Air India back in the Tata Group. We look forward to walking with everyone to create a world-class airline,” Chandrasekharan said to reporters.

Following the handover to Tata Group, the conglomerate tweeted, “Your arrival was much awaited.”

Your arrival was much awaited, @airindiain. #AirIndiaOnBoard #ThisIsTata pic.twitter.com/OVJiI1eohU

— Tata Group (@TataCompanies) January 27, 2022

Civil aviation minister Jyotiraditya M Scindia took to Twitter to say, “This proves the govt’s ability, and the resolve to carry out disinvestment effectively in non-strategic sectors in the future.” Scindia further stated, “Best wishes to the new owners. I am confident that the airline will bloom under their wings, and pave the way for a thriving & robust civil aviation industry in India.”

It is indeed noteworthy that the disinvestment process of @airindiain has been brought to a successful conclusion in a time-bound manner. This proves the govt’s ability, and the resolve to carry out disinvestment effectively in non-strategic sectors in the future.

— Jyotiraditya M. Scindia (@JM_Scindia) January 27, 2022

Also Read: The debt ridden Maharaja signs off : Tata Sons beat SpiceJet promoter to bag Air India