After 69 years, Air India officially returned to back to its founder Tata Group on Thursday. After a meeting with Prime Minister Narendra Modi, Tata Sons spokesman said that all the formalities have been completed and the Air India disinvestment process is closed. The shares have been transferred to Talace Pvt Ltd, which is the new owner of Air India.
"We're totally delighted that this process is complete & happy to have Air India back in the Tata Group. We look forward to walking with everyone to create a world-class airline," said the Chairman of Tata Sons N Chandrasekharan after taking handover of Air India.
Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told reporters that Air India has been handed over to Talace Private Limited, a subsidiary of the Tata Group's holding company, which is the successful bidder.
After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited, a subsidiary of the Tata Group's holding company, for Rs 18,000 crore. Air India was started by the Tata Group in 1932. However, after the country got independence, the airline was nationalised in 1953 by the then prime minister Jawaharlal Nehru.
Maharaja is the official mascot of Air India which operates globally apart from domestic operations. According to the available data in 2020, "Air India operates around 101 destinations including 57 domestic operations including 33 countries on four continents around the world."
Aviation experts say that Air India is carrying a substantial number of latest aircraft in its fleet from both Airbus and Boeing which is Air India's strength. Air India code share with Star Alliance and operates a total of 172 wide and narrow body aircraft with Air India Express globally including domestic operations.
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