Air India, the erstwhile national carrier, found its way back home to the Tata Group today under Tata Sons Chairman N Chandrasekaran’s watch.
A recent Padma Bhushan awardee, Chandrasekaran expressed his happiness at the acquisition and reminisced about his first flight decades ago on an Air India plane in a LinkedIn post.
“Like for many of us, my first flight was on Air India, in December 1986. I was a young intern then, at Tata Consultancy Services. I vividly recall, even after all this time, how I felt that day. There was a feeling of excitement, that it was a special experience. There was also a strong sense of belongingness,” Chandrasekaran’s post read.
He also added that it was a “historic day” for everyone at the Tata Group as he welcomed Air India back to the conglomerate after 69 years.
“…We are excited, and we are committed to making this a world-class airline. The Tata Group looks forward to working with Air India and taking our National Airline to new heights in the future,” the Tata Sons Chairman said.
In a message to Air India employees, Chandrasekaran said the acquisition was like a “homecoming”.
"From the day of the announcement, one word has been on everyone's lips: homecoming. We are proud to welcome Air India back to the Tata family, after all these years."
The Tata Group reinsured its role in the aviation sector by acquiring loss-making Air India from the government under Chandrasekaran’s leadership. He had joined as an intern at Tata Consultancy Services in 1986.
On October 25, the government had signed the share purchase agreement with Tata Sons for the sale of Air India for Rs 18,000 crore. The Tatas' would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline’s debt.
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