New Delhi: Tata Sons chairman Ratan Naval Tata on Friday welcomed back Air India after winning the financial bid for the national carrier. “The Tata Group winning the bid for Air India is great news!” said the veteran businessman in a statement on Twitter.
Talace Pvt Ltd of Tata Sons emerged as the winning bidder at Rs 18,000 crores. The transaction is expected to close by the end of December 2021, said Tuhin Kant Pandey, Secretary, DIPAM.
Acknowledging the uphill task ahead of Tata Sons, Ratan Tata said, “While admittedly it will take considerable effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata Group’s presence in the aviation industry.”
The businessman also took the opportunity to remember Jehangir Ratanji Dadabhoy Tata, who had once led the national carrier. Air India was founded as Tata Airlines, in 1932. After World War II, it was renamed Air India and later commenced its operations in 1946. J R D Tata was the first to fly its first single-engine plane carrying an airmail from Karachi to Mumbai.
“On an emotional note, Air India, under the leadership of Mr J R D Tata had at one time, gained the reputation of being one of the most prestigious airlines in the world. Tatas will have the opportunity of regaining the image and reputation it enjoyed in earlier years. Mr J R D Tata would have been overjoyed if he was in our midst today.
“We also need to recognize and thank the government for its recent policy of opening select industries to the private sector,” he said further.
“Welcome back, Air India!” concluded an elated Ratan Tata.