TATA Group Likely To Fly Maharaja By End Of The Year

AMIDST celebration of 150  years of successful business in diverse products in India and abroad,  Tata Group has emerged as the frontrunner to win the financial bid to run beleaguered Air India, said Industry sources. A panel of the Union Cabinet chaired by Home Minister  Amit Shah is overseeing the deal related to 15 percent disinvestment in the nationalised airlines incurring  losses over the years. Tatas who had initiated the aviation sector in India is expected to Fly Iconic Maharaja after the deal is finalised. The government has received financial bids from Tata Group and SpiceJet founder for the acquisition of Air India.  The Tata Group had founded Air India 67 years ago as Tata Airlines in October 1932. The government then headed by Jawahar  Lal Nehru nationalised the airline in 1953 and renamed it. However, its founder JRD Tata who flew the inaugural flight continued as the Chair of the nationalised carrier.  With the target for INR 1.75 lakh crore announced in the budget for 2021-22, the government plans to complete privatisation of the loss-making Air-India impacting national revenue by 2022 Financial Year. Currently, the Tata Group has majority stakes in low-cost airlines Air Asia and Vistara. Air-India Limited is authorised to operate passenger and cargo flights from Bombay to destinations in the United States, Europe, the Middle East, Africa, the United Kingdom, Russia, China, Japan, and other countries besides operating across India. It holds the distinction of being the world’s first all-jet airline. The government-owned Air-India was once regarded as a “little jewel” of an airline. Despite its profits coming down it still is ranked among the better airlines of the world. Three million passengers a year fly Air India. It may be recalled that the Tata Group, a conglomerate of is executing the GOI’s  Central Vista Development  Project to revamp the central administrative area located near Raisina Hill in  Lutyens’ New Delhi at a cost of INR 13,000 crores. Edited by PK Chakravarty. Pic Courtesy: Zee News.

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