New Delhi, India (Urban Transport News): Tata Group announced With the completion of the transaction for the purchase of Air India from the Government of India on January 27, 2022. With this, the Tata Group formally takes over the management and control of the airline with effect from January 27.
Three entities are involved in the transaction – Air India, Air India Express and AI SATS. Air India is India’s flag carrier and major full-service airline. Air India Express is a low cost carrier. AI SATS provides a comprehensive suite of Ground Handling and Cargo Handling services.
On the occasion, N Chandrasekaran, Chairman, Tata Sons said: “We are excited to bring Air India back to the Tata Group and are committed to making it a world class airline. I thank all the employees of Air India, on our behalf. Warm welcome to the group, and look forward to working together.”
Ratan N Tata expressed his gratitude to the Government of India and its various departments for successfully completing this important deal along with N Chandrasekaran.
“The Tata Group would like to acknowledge Prime Minister Narendra Modi’s commitment to reforms and belief in India’s entrepreneurial spirit, which has made this historic transformation possible. Our Prime Minister has demonstrated in action that ‘Minimum Government, Maximum Governance’ ‘ What does that mean for their commitment.” Tata Group said in its official statement.
“We philosophically agree with the Prime Minister’s vision for the aviation sector, to make it affordable and ensure that it contributes to promoting ‘Ease of Living’ for citizens,” his statement added. .
Founded in 1868 by Jamsetji Tata, the Tata Group is a global enterprise, headquartered in India, consisting of 30 companies in ten verticals. The group operates in more than 100 countries across six continents, with a mission to ‘improve the quality of life of the communities we serve globally through leadership-based, long-term stakeholder value creation’. .
Founded by the legendary JRD Tata, Air India has played a leading role in India’s aviation sector and the airline’s history is, in fact, synonymous with the history of civil aviation in India.
Since its first flight on October 15, 1932, Air India has grown to become a major international airline with a network in the United States, Canada, the UK, Europe, the Far-East, South-East Asia, Australia and the Gulf. Wings spread. The airline also has an extensive domestic network, covering remote areas of India’s North-East, Ladakh, Andaman and Nicobar Islands. Air India has been a member of Star Alliance, the largest global airline consortium, since July 2014.