“Welcome Back Air India”, Tweeted Ratan Tata after winning Air India bid for Rs. 18,000 Crore
11 months ago
The government made the official announcement that Tata Sons will now be the new owner of Air India. Tata Sons takes over Air India by bidding Rs 2,900 crore more than its rival Group of Companies.
The company made the highest bid of Rs 18,000 crore for this state-run airline. With this, now Tata Sons will have 3 airlines in the country and they are now termed as “New Maharajas”. After winning, Ratan Tata, the Tata Group owner tweeted, Welcome back, Air India!
Tata Sons made a bid of Rs 18,000 crore for Air India. At the same time, SpiceJet Ajay Singh’s consortium involved in the race made a bid of Rs 15,100 crore. Thus Tata Sons won the bid for the ownership of Air India by a margin of over Rs 2,900 crore.
Chairman of Tata Sons, N. Chandrasekaran’s statement on winning the Air India bid, he gave tribute to J.R.D. Tata also.
After getting the ownership of Air India, the new owner i.e. Tata sons will have to preserve the name and logo associated with it for 5 years. Pandey told that Tata Sons can transfer the name and logo of Air India after 5 years if it wants, but, no foreign person or entity will be able to access it, they can give to only Indian person or entity.
About Air India
Air India was started in 1932 by the Tata Group itself. J. R. D. Tata (JRD Tata),who himself was a skilled pilot, started it as Tata Airlines, but, after the Second World War, normal air service started from India and then Air India was made a public sector company. After the independence of the country in the year 1947, the need for a national airline was felt and the Government of India acquired 49% stake in Air India.