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02-10-2021, 12:57 PM
PUBLISHED OCT 1, 2021, 2:51 PM SGT
MUMBAI (BLOOMBERG) - Tata Sons is set to take over ailing Air India again, more than half a century after the country's biggest conglomerate ceded control to the state, ending the government's hold over an airline that for decades defined the lofty ambitions of a newly independent nation.
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For Tata Group, Air India adds a third airline brand to its stable, considering the conglomerate already holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines.
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The proposed handover is a key victory for Indian Prime Minister Narendra Modi, who has embarked on a bold privatisation plan to plug a widening budget deficit. It also puts an end to a decades-long struggle to offload the money-losing flag carrier. Multiple governments have tried to sell the airline - which began life as Tata Airlines in 1932 - but those attempts were either met with political opposition or a lack of interest from potential buyers.
https://www.straitstimes.com/business/co...-in-making
MUMBAI (BLOOMBERG) - Tata Sons is set to take over ailing Air India again, more than half a century after the country's biggest conglomerate ceded control to the state, ending the government's hold over an airline that for decades defined the lofty ambitions of a newly independent nation.
......
For Tata Group, Air India adds a third airline brand to its stable, considering the conglomerate already holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines.
......
The proposed handover is a key victory for Indian Prime Minister Narendra Modi, who has embarked on a bold privatisation plan to plug a widening budget deficit. It also puts an end to a decades-long struggle to offload the money-losing flag carrier. Multiple governments have tried to sell the airline - which began life as Tata Airlines in 1932 - but those attempts were either met with political opposition or a lack of interest from potential buyers.
https://www.straitstimes.com/business/co...-in-making
