New Delhi: The Chairman of Tata Sons, Emeritus Ratan Tata today expressed happiness after winning the bid to get loan-Laden Air India to the Salt-to-Software Group. In a statement, Mr. Tata said that he tweeted with the old picture of Tata Group JRD Tata, said, “There will be a lot of effort to reconstruction of Air India”, which has a loan of Rs 60,000 crore and every 20 Crore loses the day.
JRD Tata established Air India as Tata Airlines in 1923. It was India’s first airline and at that time only domestic flights operate. The airline was nationalized in 1953 and two – was divided into a domestic airline and an international carrier.
Fast forward 2009, the government appointed State Bank to create a roadmap for the recovery of airline after the loss of years under the emergency of new players in the state control and the aviation sector. In 2018, the government has failed to attract a bidder from the time limit to sell a stake in Air India, with potential buyers with potential buyers. In October last year, two bids got two bids after increasing the time limit several times; The bid was from Tata Sons, and the promoter Ajay Singh of Budget Airline SpiceJet.
Today, the government announced that Tata Sons has won the quote. This deal completes a full circle from 1932 when JRD Tata established the airline.
“Tata Group is a great news to win bid for air India! Although acceptable to the reconstruction of Air India, it is expected that the aviation industry will provide a very strong market opportunity for the presence of Tata Group.” Mr. Tata tweeted.
“On an emotional note, at one time, Air India under the leadership of Mr. JRD Tata received the reputation of being one of the most prestigious airlines in the world. Tata will get an opportunity to achieve the image and reputation in the earlier years. Mr. JRD Tata will be very happy if he was among us today, “said Mr. Tata said in a tweeted statement. “We also need to recognize and thank the government for their recent policy of opening selected industries in the private sector. Welcome, Air India!” Tata Sons Chairman Emeritus tweeted.
From Air India sales to Tata Sons, the government will get Rs 2,700 crore. The victory of Tata Sons is for Rs 18,000 crore, for which he will get 100 per cent stake in Air India, as well as 50 per cent stake in his ground-handling company Air India-SATS and Air India Express.