Tata wins Air India in historic deal decades in making -
Levin - 02-10-2021
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/companies-markets/tata-wins-air-india-in-historic-deal-decades-in-making
RE: Tata wins Air India in historic deal decades in making -
starbugs - 02-10-2021
Fortunately SIA didn't decide to join Tata in this ill-fated takeover. Air India is a bottomless pit. The legacy unions and salary structures can never be reformed.