New Delhi: 68 years after its nationalisation, Tata Sons took control of debt-ridden Air India by making a winning bid of Rs 18,000 crore to acquire 100 per cent shareholding. Tata’s bid of Rs 18,000 crore includes taking a loan of Rs 15,300 crore and paying the rest in cash.
Welcome back Air India pic.twitter.com/euIREDIzkV
— Ratan N Tata (@RNTata2000) 8 October 2021
Air India returns to Tata after 68 years
Jahangir Ratanji Dadabhai (JRD) Tata founded the airline in 1932. Then it was called Tata Airlines. It operated only domestic flights at that time.
In 1946, the Aviation Division of Tata Sons Air India was listed as In the same year, the airline adopted its widely recognized ‘Maharaja’ mascot. In 1948, Air India International was launched with flights to Europe.
International Service was one of the first public-private partnerships in India, with the government holding 49 percent, the Tatas 25 percent and the public holding the remainder. In 1953, Air India was nationalized and split into two parts – a domestic airline and an international carrier. When Jawaharlal Nehru nationalized Air India, JRD fought vigorously against it.
“It is said that Tata Group executives complained privately that JRD – the pioneer of the Indian aviation industry – spent more time worrying about Air India than the Tata Group when he headed both entities. Yet, he also knew that leading as the chairman of Air India was never just a job, but a labor of love for him,” PTI reported on the Air India founder’s passion.
“Given the respect for the group’s legacy, it is not surprising that Tata spent so much (Rs 18,000 crore) to get Air India back. Tata Airlines and Air India’s forerunner to start Tata Aviation Service in 1932. From the first airmail service flight from Karachi to Bombay in October 1932, 89 years later, JRD took control of Air India as a puss moth. piloted the aircraft. Indian civil aviation was a roller coaster ride in history,” the news agency writes.