“Welcome back, Air India,” Tata Group’s chairman Ratan Tata tweeted on Friday as the Tata Group won the bid to acquire Air India.
Posting an old photograph of Jehangir Ratanji Dadabhoy Tata, company’s former chairman JRD Tata getting down from an Air India aircraft, Ratan Tata twitted, “The Tata Group winning the bid for Air India is great news! While admittedly it will take considerable effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata group’s presence in the aviation industry.”
“On an emotional note, Air India, under the leadership of Mr. JRD Tata had, at one time, gained the reputation of being one of the most prestigious airlines in the world. Tatas will have the opportunity of regaining the image and reputation it enjoyed in earlier years. Mr. JRD Tata would have been overjoyed if he was in our midst today,” he added.
“We also need to recognise and thank the government for its recent policy of opening select industries to the private sector. Welcome back, Air India!” He said in a statement.
The Tata Group will now take charge of Air India after winning a bid of $2.4 billion, including equity and debt. Air India was in financial struggle for a long period.