The Central government on Thursday officially handed over Air India to Tata Group. The transaction covers three entities – Air India, Air India Express and AI SATS.

Tata Sons chairman N Chandrasekharan said the group is very happy to have Air India back in its fold.

“We are excited to have Air India back in the Tata Group and are committed to making this a world-class airline. I warmly welcome all the employees of Air India, to our Group, and look forward to working together," he said.

Also Read - Tata's Air India takeover: What changes, what does not

Ratan Tata expressed his thankful recognition to the government and its various departments for the successful completion of this important transaction, a company release said.

The group also said it philosophically agrees with "the Prime Minister's vision for the aviation sector, of making it affordable and ensuring it contributes to boosting 'Ease of Living' for citizens".

Following the official handover, Air India said it's looking forward to a shared mission of serving the nation.

"#FlyAI: A brand new chapter unfolds for Air India as part of the Tata Group. Two iconic names come together to embark on a voyage of excellence. Looking forward to soaring high propelled by our rich legacy & a shared mission to serve our Nation. Welcome Aboard.

@TataCompanies," the airlines tweeted.

#FlyAI: A brand new chapter unfolds for Air India as part of the Tata Group.

Two iconic names come together to embark on a voyage of excellence.Looking forward to soaring high propelled by our rich legacy & a shared mission to serve our Nation.Welcome Aboard. @TataCompanies pic.twitter.com/iCVh5ewI7q— Air India (@airindiain) January 27, 2022

After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited -- a subsidiary of the Tata Group's holding company -- for Rs 18,000 crore. Air India was started by the Tata Group in 1932 but after the country got independence, the then Prime Minister Jawaharlal Nehru nationalised it in 1953.

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(Edited by : Aditi Gautam)

First Published:Jan 27, 2022 4:28 PM IST