Tata Group to Acquire 100% Stake in Air India
The Tata group recently announced that it has successfully acquired national carrier Air India. The deal includes ownership of iconic brands such as Air India, Indian Airlines & the Maharajah.
Commenting on the development, N. Chandrasekaran, Chairman, Tata Sons Pvt Ltd said, “At the Tata group, we are delighted to be declared as the winner of the bid for AIR INDIA. This is a historic moment, and it will be a rare privilege for our group to own and operate the country’s flag bearer airline. It will be our endeavour to build a world-class airline that makes every Indian proud. On this occasion, I would like to pay tribute to JRD Tata, pioneer of Indian aviation, whose memory we cherish.”
Air India provides a unique and attractive international footprint. More than 2/3rd of Air India’s consolidated revenues come from the international market. It is the number one player from India in the international market having a strong footprint across geographies like North America, Europe, and the Middle East with attractive slots & bilateral rights. The Air India frequent flyer program has more than 3 million members. Air India has a fleet of 117 wide-body and narrow-body aircraft and AIXL has a fleet of 24 narrow-body aircraft. A significant number of these aircraft are owned by Air India.
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents. In 2020-21, the revenue of Tata companies, taken together, was $103 billion (INR 7.7 trillion). These companies collectively employ over 800,000 people.
Last Updated on January 31, 2022 by MEA Aviation