Tata Group has several verticals, one of which tourism and travel houses the group's interest in Indian Hotels Company, Vistara and AirAsia India.
Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over.
On an emotional note, Air India under the leadership of JRD Tata had, at one time, gained the reputation of being one of the most prestigious airlines in the world.
Tatas cannot transfer Air India brand, logo for 5 years, can transfer to only Indian person after 5 years.
The international service was among the first public-private partnerships in India, with govt holding 49 pc, the Tatas keeping 25 pc and the public owning the rest.
They say better late than never. For the Tatas, the original owners of Air India, bringing back the airline to its fold is worth the wait even if the attempt to privatise the bleeding national carrier by successive governments has taken over two decades. While many airlines have come and gone from the Indian skies since the time when the first move was made to privatise Air India to date, the salt-to-software conglomerate has never let the love affair with aviation, more so with Air India that its former Chairman Jehangir Ratanji Dadabhoy Tata (JRD) had, to go off the radar. Considering the respect for legacy that the group has, it is therefore not a surprise that the Tatas shelled out so much (Rs 18,000 crore) to take back Air India. This is a group that didn't mind investing Rs 2 lakh back then in 1932 to start Tata Aviation Service, the precursor of Tata Airlines and Air India.
Commerce and Industry Minister Piyush Goyal on Saturday said the government announced Air India as the final winner for Air India disinvestment bid. Tata Sons made the winning bid of Rs 18,000 cr for Air India, DIPAM Secretary said.
From the first airmail service flight from Karachi to Bombay in October 1932 with JRD steering a Puss Moth aircraft to wresting control of Air India 89 years later, the conglomerate has had a roller coaster ride in the Indian civil aviation history.
Tata Sons beat SpiceJet promoter to bag Air India. The DIPAM secretary said Tatas' bid of Rs 18,000 crore comprises taking over of 15,300 crore of debt and paying the rest in cash.
Earlier, the Centre evaluated financial bids received from Tata Group and SpiceJet founder for the acquisition of Air India.
"I have been in Dubai since...day before and I don't think there is any such decision that has happened at all," Piyush Goyal told reporters.
Tata Sons, the holding company of Indian multinational conglomerate Tata Group, has won the bid to take control of Air India, reports claimed.
The government on Wednesday said it has received multiple financial bids for buying national carrier Air India. Meanwhile, a Tata Sons spokesperson told PTI that it has put in a bid for the airline.
All passengers of the flight have been deplaned, the Raipur Airport Director said.
An Air India flight with Union minister Shobha Karandlaje on-board returned to parking bay before take off due to a technical glitch at the Bengaluru airport on Sunday.
In a bizarre incident, an Air India flight aborted its take-off at Delhi airport on Monday after a swarm of ants were found in the business class category.
A programme will be organised at Devi Ahilyabai International Airport to mark the occasion. Union Civil Aviation Minister Jyotiraditya Scindia and Madhya Pradesh Chief Minister Shivraj Singh Chouhan will take part in the event virtually, an airport official said on Tuesday.
The passenger, identified as A Velmurugan, a native of Nariyapatti village in Pudukottai, was suffering from a variety of health conditions.
The tyre burst emitting a loud noise, following which the pilot immediately informed the air traffic controllers, the official said.
Air India is going to start new services between Indore and Dubai that will operate once a week (on Wednesday) currently, the minister said on Twitter.
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