Air India Returns To Tata Group

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08 October 2021 Current Affairs:Tata Group, the creator of Air India, claimed it back, after 60 years after nationalized. 

Highlights:
♦ Tata Sons bid ₹180 billion for the government’s 100% stake in Air India. 
♦ The govt. is seeking to sell 100% of its stake within the state-owned national airline, which includes Air India’s 100% shareholding in AI Express Ltd and 50 percent in Air India SATS Airport Services Private Ltd.
♦ The stake sale process, beginning in January 2020, faced delays because of the Covid-19 pandemic. Later in April 2021, the govt. asked potential bidders to place in financial bids.
♦ Air India was found by JRD Tata in October 1932 and it had been at that point called Tata Airlines. The govt. nationalized the airline in 1953. 
♦ Air India has been in losses ever since its merger with domestic operator Indian Airlines in 2007. 

 

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