The Tata Group on Thursday regained control of Air India after 69 years of handing over its stake in Mumbai-based airline to the central government.
“Congratulations to the Tata Group on the return of Air India!” The US-India Business Council said in a tweet congratulating the Government of India on its successful asset monetization program.
The Tata Group is an Indian multinational corporation headquartered in Mumbai. Founded by Jamshedji Tata in 1868, the group gained international recognition after being acquired by several global companies. It is one of the largest and oldest industrial groups in India.
Domestic carrier Air India on Thursday officially handed over to the Tata Group. The airline is bringing back the Tata Group after 67 years. On this occasion, Tata Sons Chairman N Chandrasekaran wrote a letter to all members of the Air India family, welcoming the airline back to the Tata family years later.
On October 8, 2021, the government announced the success of Thales Pvt Ltd, a wholly-owned subsidiary of Tata Sons, in a bid to acquire debt-ridden Air India. Tata had surpassed the consortium led by SpiceJet promoter Ajay Singh and pledged Rs 18,000 crore.
The sale of Air India shares has now come to an end. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPM), on Thursday announced the transfer of shares to Air India’s new owner, Thales Pvt.
Chandrasekaran said he enjoyed reflecting on the airline’s stories from the past. He added that his first flight with Air India was back in December 1986 and that experience will never be forgotten.
He lauded the Tata Group for regaining the management and control of Air India Airlines and lauded the Prime Minister Narendra Modi government for its asset mobilization program.
The Tata Group on Thursday regained control of Air India after 69 years of handing over its stake in Mumbai-based airline to the central government.
“Congratulations to Tata Group on the return of Air India!” The US-India Business Council congratulated the Government of India on its successful asset monetization program in a tweet. USIBC said it expects more connectivity and opportunity in the US-India economic corridor.
“It is a milestone for Tata companies,” said Mukesh Agi, President, US-India Strategic and Partnership Forum. Chairman Chandrasekharan also congratulated the Tata Group, he said.
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