The Tata group will now be the new owner of Air India. A panel of ministers has accepted the proposal to take over the airline. The sale of Air India was started in January 2020, but was delayed by the Corona epidemic.
Tata Sons wins bid to acquire Air India.
Tata Sons wins bid to acquire Air India: Recalling JRD Tata, Ratan Tata wrote that – if it were today, he would have been very happy to see this moment.
The country’s state-owned airline Air India ( TATA Sons won Air India Final Bid ) has now joined the Tata Group. After this, Ratan Tata has expressed his happiness by tweeting. He shared a photo of JRD Tata and tweeted ‘Welcome back Air India’. Tata had bid Rs 18,000 crore for Air India.
The Tata group will now be the new owner of Air India.
He shared a note in this tweet. In which Ratan Tata writes that- The news that Tata Group has won the bid of Air India is very happy. It will take a lot of hard work to rebuild Air India. It is expected that this will further strengthen the Tata Group’s presence in the aviation sector. Recalling JRD Tata, Ratan Tata wrote that – if it were today, he would have been very happy to see this moment.
The Tata Group had bid Rs 18,000 crore, the highest of which was given to Air India. As a result, Air India has regained ownership of Air India after 68 years.
In April 2021, the government once again asked eligible companies to bid. September 15 was the last day to bid. In the year 2020, the Tata group had also given a letter of interest regarding the acquisition of Air India. In fact, the government had been trying to auction Air India since 2017.
Welcome back, Air India 🛬🏠 pic.twitter.com/euIREDIzkV— Ratan N. Tata (@RNTata2000) October 8, 2021
But then the companies showed no interest. After this, the government relaxed the rules of expression of interest (EOL), after which some companies showed interest in buying debt-ridden Air India. Under the new rules, loan provisions were relaxed so that the proprietary company would not have to bear the entire debt.
Air India was started by JRD Tata in 1932
The Tata Group started an airline in October 1932 under the name Tata Airlines. After the country gained independence in 1947, there was a need for a national airline. Under such circumstances, the Indian government bought a 49 per cent stake in Air India. Subsequently, in 1953, the Government of India passed the Air Corporation Act and later bought a majority stake in the company from the Tata Group.
Air India is the only state-owned airline currently in debt. Air India has a debt of over Rs 58,000 crore. As a result, the employees working here do not get their salaries on time. Meanwhile, the change in ownership of Air India to Tata Sons is expected to change.