"Welcome back, Air India," Ratan Tata, Chairman Emeritus Tata Sons, wrote minutes after the government announced that the Tatas have emerged victorious in the bid to take over the debt-ridden airline.
Tata will shell Rs 18,000 crore to take back their beloved Air India. The government on Friday announced that an SPV of salt-to-software conglomerate beat a consortium led by SpiceJet promoter Ajay Singh to bag Air India. This marks the return of Air India to Tatas' folds. Tatas had founded the airline before it was nationalised.
"The Tata Group winning the bid for Air India is a great news. While admittedly it will take considerable effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata Group in the aviation industry," Ratan Tata said.
On an emotional note, Tata said, "Tatas will have the opportunity of regaining the image and reputation enjoyed in earlier years. J R D Tata would have been overjoyed if he was in our midst today."
"We also need to recognise and thank the government for its recent policy of opening select industries to the private sector," Tata added.
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Published 08 October 2021, 12:02 IST