New Delhi, India (Urban Transport News): The Tata group announced the completion of the transaction for the purchase of Air India from the Government of India on January 27, 2022. With this, Tata group formally takes over management and control of the airline with effect from January 27.
The transaction covers three entities – Air India, Air India Express, and AI SATS. Air India is India’s flag carrier and premier 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 this occasion, N Chandrasekaran, Chairman, Tata Sons said: "We are excited to have Air India back in the Tata group and are committed to making this a world-class airline. I warmly welcome all the employees of Air India, to our group, and look forward to working together.”
Ratan N Tata joined N Chandrasekaran in expressing his thankful recognition to the Government of India and its various departments for the successful completion of this important transaction.
"The Tata group would like to acknowledge Prime Minister Narendra Modi's commitment to reforms and faith in India's entrepreneurship spirit, which made this historic transition possible. Our Prime Minister has in action demonstrated what his commitment to 'Minimum Government, Maximum Governance' means," said Tata Group in their official statement.
"We philosophically agree with the Prime Minister's vision for the aviation sector, of making it affordable and ensuring it contributes to boosting 'Ease of Living' for citizens," added in their statement.
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across 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 long-term stakeholder value creation based on Leadership with Trust’.
Founded by the legendary JRD Tata, Air India has pioneered India’s aviation sector and the airline's history is, in fact, synonymous with the annals of civil aviation in India.
Since its first flight on October 15, 1932, Air India has spread its wings to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South-East Asia, Australia and the Gulf. The airline also has an extensive domestic network, including far-flung areas of India’s North-East, Ladakh, Andaman & Nicobar Islands. Air India has been a member of Star Alliance, the largest global airline consortium, since July 2014.