The disinvestment was completed on Thursday – just two years after the preliminary information memorandum was issued. The government transferred 100% of the shares in AI to Tales Pvt Ltd, a wholly owned subsidiary of Tata, along with management control.
Chandrasekaran met the Prime Minister Narendra Modi Prior to taking over – in the trademark low-key Tata style – the airline was nationalized 69 years ago.
The group acknowledged “Modi’s commitment to reforms and belief in India’s entrepreneurial spirit, which made this historic transformation possible”.
‘Welcome to the future of historic flight @airindiain’ as Maharaja R today announces Inflight on AI flights… https://t.co/9qgOjzsR7f
— Saurabh Sinha (@27saurabhsinha) 16433373390000
Ratan N Tata “Involved” Chandrasekaran Expressing gratitude to the Government for successfully completing this important transaction.
Tata paid Rs 2,700 crore as advance and took a loan of Rs 15,300 crore. “We are excited to bring AI back to the Tata Group and are committed to making it a world-class airline. I warmly welcome all Air India employees to our group and look forward to working together,” said Chandra, aviation secretary and former CMD of AI handling the airline in the presence of Rajiv Bansal, DIPAM chief TK Pandey and others. said in a statement after.
Union Aviation Minister Jyotiraditya Scindia Tweeted: “Best wishes to the new owners. I am confident that the airline will bloom under their wings, and pave the way for a thriving and strong civil aviation industry in India.”
While major changes like fleet and cabin upgrades will take huge investment and time, passengers will start to feel the difference from Friday.
“Dear Guests…Welcome to this historic flight, which marks a special event. Today, Air India has officially become part of the Tata Group again after seven decades. We are on this and of Air India. We look forward to serving you with renewed commitment and passion in each flight.Welcome to the future of Air India, pilots of all flights will announce this flight on Friday.
Under the supervision of Puneet Chhatwal, MD-CEO of Taj Hotels, TajSat has finalized an “advanced meal service” for inflight meals on AI starting Friday. Timely performance has been the AI’s weak point and orders have been issued to close the doors 10 minutes before departure time so that they can leave on time. Cabin crew BMI and grooming will be checked when they report for flights.
“Tonight we will transit from a public sector to a private sector. The next seven days will be very important as we will change our image, attitude and perception,” said a mail sent to cabin crew members just before the handover .
Watch ‘Welcome to the future of Air India’: First in-flight announcement as Maharaja returns to Tata Group
,