On January 27, the Tata group announced the completion of the transaction for the purchase of Air India from the Government of India. The Tata group takes over management and control of the airline, starting yesterday.
The transaction covers three entities – Air India, Air India Express, and AI SATS. Air India is India’s flag carrier and premier full-service airline.
Air India Express is a low-cost carrier. AI SATS provides a comprehensive suite of ground handling and cargo handling services.
On this occasion, N Chandrasekaran, Chairman, Tata Sons 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.”
Ratan N Tata joined Chandrasekaran in expressing his thankful recognition to the Government of India and its various departments for the successful completion of this important transaction.
The Tata group would like to acknowledge Prime Minister Shri Narendra Modi’s commitment to reforms and faith in India’s entrepreneurship spirit, which made this historic transition possible. Our Prime Minister has in action demonstrated what his commitment to ‘Minimum Government, Maximum Governance’ means.
We philosophically agree with the Prime Minister’s vision for the aviation sector, of making it affordable and ensuring it contributes to boosting ‘Ease of Living’ for citizens.