Agencies
NEW DELHI: The Maharaja has returned home!
The Tata Group, which founded Air India 90 years ago, took over its management on Thursday.
“Your arrival was much awaited,” tweeted the Tata Group after taking India’s premier airline. Air India is known by its mascot – the Maharaja.
Tata Sons Chairman N Chandrasekaran met Prime Minister Narendra Modi and tweeted, “We are totally delighted to have Air India back at the Tata group and are committed to making this a world-class carrier.”
Air India was founded by JRD Tata in 1932. It was nationalized by Indian prime minister Jawaharlal Nehru in 1953.
Last October, the airline was sold back to the Tata Group’s subsidiary Talace Private Limited for Rs 18,000. As part of the deal, Tata Group also gets Air India Express and a 50 percent stake in the airline’s ground handling wing Air India SATS.
Air India currently has 141 aircraft. It owns 99 and the remaining 42 are on lease.
In India, the airline has 4,400 domestic and 1,800 international landing and parking slots. It also has 900 slots abroad.
However, the Tatas don’t get the iconic Air India Building at Nariman Point in Mumbai and Air India Building in New Delhi as part of the deal.
Air India’s Vasant Vihar housing colony will also stay with the government.
