New Delhi: The Tata Group is in the process of vacating offices belonging to the Air India Group operating in government-owned buildings.
Air India plans to shift its offices to buildings owned by the Tata Group by March next year.
After nearly 69 years of nationalization in January this year, Air India came under the control of the Tata Group. Subsequently, the work of shifting the offices belonging to Air India, which is operating in the buildings owned by the central government, to the buildings of the Tata group has started.
Air India changed hands
On October 8 last year, Air India was auctioned off to cover losses. Tata bought Air India for Rs 18,000 crore. Of this, Tata Sons has agreed to pay Rs 2,700 crore in cash and assume India’s debt for the remaining Rs 15,300 crore.
Air India was operating at a loss of around 70 thousand crores and faced administrative problems in maintaining aircraft and paying salaries to employees.
Thus, an auction was arranged to sell it to private individuals. While various companies participated in this auction, Tata won.
With this, after 69 years, Air India was once again under the control of Tata, and now the Central Government has officially handed over Air India to the Tata Group.
What is the relationship between Air India and Tata?
JRT Tata started Air India in 1932. At that time the company was operating under the name of Tata Airlines. After that, in 1946, the name of the company was changed to Air India.
In 1948, Air India, which started its international operations, had 49 per cent shares held by the central government, 25 per cent by Tata and other shares by the public.
After that, Air India was nationalized in 1953. Now, Air India has merged with Tata, the company that started the company.
Also, Air India has 1,800 landing pads and 4,400 parking stands at airports around the world.