Tata group the new ‘Maharaja’ of Air India,
In the sale process of Air India, the Tata group has won the bid by charging the highest price. Ajay Singh of Tata Group and SpiceJet had bid for Air.
The state-run airline Air India will go under the control of the Tata Group. In the sale process of Air India, the Tata group has won the bid by charging the highest price.
Ajay Singh of Tata Group and SpiceJet had bid for Air India. This is the second time the government is trying to sell its stake in Air India. Earlier in 2018, the government had tried to sell 76 per cent stake in the company but it did not get any response.
The government had invited financial bids for Air India. The government is aiming to privatize this state-run airline in this financial year. It is also part of the disinvestment program of the government.
Tata group started
Air India was started in 1932 by the Tata Group itself. Tata Group’s J. R. It was started by D. Tata (JRD Tata), was also a very skilled pilot.
Air India became such a government company
After World War II, general air service started from India and then it was made a public sector company by naming it Air India. After the independence of the country in the year 1947, the need for a national airline was felt and the Government of India acquired 49% stake in Air India. After this, in 1953, the Government of India passed the Air Corporation Act and bought a majority stake in the company from Tata Group. In this way Air India became completely a government company.