Air India is finally back to its original home, 68 years after it was nationalised, as the Narendra Modi government formally handed over the airline to the new owner Tata Sons, completing the privatisation process of a public entity for the first time in 20 years.
The takeover by the salt-to-software conglomerate comes three months after it won the bid quoting Rs 18,000 crore — which includes taking over of Rs 15,300 crore of Air India’s debt and a payment of Rs 2,700 crore in cash. Air India was founded by JRD Tata and was nationalised by the Jawaharlal Nehru government in 1953.
The announcement of full handing over came soon after Tata Sons Chairman N Chandrashekhar met Prime Minister Narendra Modi in the national capital today.
