After a meeting with Prime Minister Narenra Modi, Tata group has officially taken over Air India from the government on Thursday. Tata Sons Chairman N Chandrasekaran also met Prime Minister Narendra Modi ahead of the official handover.
Tata Sons Chairman N Chandrasekaran 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.”
“The strategic disinvestment transaction of Air India Successfully concluded today with transfer of 100% shares of Air India to M/s Talace Pvt Ltd along with management control. A new Board, led by the Strategic Partner, takes charge of Air India”, Secretary, Department of Investment and Public Asset Management tweeted.
However, In October 2021, the government had sold Air India to Talace Private Limited- a subsidiary of the Tata group’s holding company for 18000 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.