As the news of Air India’s takeover became viral, netizens could not help but congratulate the Tata Group as well as Air India on the same. Mahindra Group chairman Anand Mahindra congratulated Tata Group and Air India on this takeover. Mahindra said that as a brand, Air India is a “part of the nation’s treasure” and there can be no better custodian that the Tata Group for the beleaguered airline “from the point of view of both passion and resources to restore its old glory.” “We at Mahindra Group congratulate the Tata Group and the whole Air India family on this milestone. Air India is a brand that’s part of the nation’s treasure trove. There is no better custodian, from the point of view of both passion and resources to restore its old glory,” the Mahindra Group boss tweeted.
CEO of e-commerce platform Snapdeal Kunal Bahl said that there is something so fitting about the Tata Group owning and operating Air India. Bahl added that the Mumbai-based auto to beverages conglomerate deserves to “carry our national carrier flag and take it to new heights.”
Airline carriers IndiGo and the Tata-Singapore Airlines-backed Vistara also congratulated Air India and Tata Group on the homecoming of the Maharaja. Vistara tweeted, “Many congratulations, Air India! Wishing you happy landings in every weather as you start this new innings as part of Tata Group.” IndiGo tweeted, “What a homecoming! Congratulations Air India and Tata Group, here’s to a soaring future ahead.”
Meanwhile, Tata Sons chairman Natarajan Chandrasekaran also talked about his first-ever flight on Air India in December 1986 when he was an intern at the Tata Consultancy Services (TCS) besides welcoming Air India back into the Tata Group after 68 years. “Looking back, looking forward. Today is a historic day for all of us in the Tata Group, as we welcome Air India to the Group. We are excited, and we are committed to making this a world class airline,” Chandrasekaran said in a LinkedIn post. He further said, “Like for many of us, my first flight was on Air India, in December 1986. I was a young intern then, at Tata Consultacy Services. I vividly recall, even after all this time, how I felt that day. There was a feeling of excitement, that it was a special experience. There was also a strong sense of belongingness.” Chandrasekaran further underscored in his LinkedIn post that the Tata Group is looking forward to work with Air India and take the Maharaja to new heights in the future. Air India divestment transaction was completed on January 27 with the government receiving Rs 2,700 crore from Talace Private Limited, a wholly owned subsidiary of Tata Sons, retaining a Rs 15,300 crore debt in Air India and AIXL and transferring shares of Air India – 100 per cent shares of Air India and its subsidiary AIXL and 50 percent shares of AISATS to Talace, according to a Finance Ministry communiqué. The communiqué further mentioned, “It is pertinent to mention that following Government’s approval of the highest price bid of M/s Talace Pvt Ltd for strategic disinvestment of Air India, the Letter of Intent was issued to the winning bidder on 11 October 2021. The Share Purchase Agreement (SPA) was signed on 25 October 2021. Thereafter, Strategic Partner (M/s Talace Pvt Ltd), Air India and the Government worked towards satisfying a set of conditions precedent defined in the SPA including approvals from anti-trust bodies, regulators, lenders, third parties, etc. These conditions have since been met to mutual satisfaction.” As a result, the Tata Group will not get to retain core-assets at the Vasant Vihar Housing colony of AI, AI building at Mumbai’s Nariman Point and Air India building in Delhi. Of the 141 Air India aircraft that Tatas will get, 42 have been leased whereas 99 are owned. Also read: Completion of Air India transaction to redefine aviation, enable privatisation
Also read: Dear guests...: Air India's flight announcement for tomorrow changes after handover
Also read: Totally delighted, says N Chandrasekaran on Air India handover to Tatas