Welcome back Air India! -Ratan Tata
With high spirits, elation and content, Tata finally Welcomes back Air India!
Since Air India is the only Indian Airlines, it is undoubtedly a moment of celebration and whilst the country is competing the world in all fields, then why sky be a limitation after all.
The airlines has a very interesting commencement with a number of ups and downs on its way. This goes back to the time of its origin.
JRD Tata created Tata Airlines in 1932 but during the time of independence, nationalism came to power resulting in the nationalisation of many companies including Tata Airlines.
This paved the way for the creation of Air India!
The airlines has experienced both glorious and disguised times.
However, the fact that the airlines didn’t generate any profit since 2007 is a testament to how badly it was operated. Indeed, during 2009-10, the government spent over ₹1.1 lakh crore for direct compensation of losses and raising loans for the same. Air India had a debt of ₹61,562 crore as of August 2021. Furthermore, for every extra day that Air India was operating, the government lost ₹20 crore that is, ₹7,300 crore each year.
With disturbing figures and amateurishness of the Indian Government, Air India was unable to compete with other international airlines.
In a survey, it was revealed that the preference of most of the Indians for taking international flights was Emirates. However, this preference may change in the coming years. Yes! Air India will be it.
Even though Tata group was out of airlines, Air India was still very close to their hearts and it’s homecoming is not only a matter of joy for them but also a sign of a bright future for the Indian airline.
Tata Sons chairman emeritus Ratan Tata tweeted an old photograph of the late JRD Tata, getting off from an Air India plane, to welcome the airlines back into the Tata Group.
After being a government-owned enterprise for the past 68 years, Air India rejoined the Tata family. In 1953, the Jawaharlal Nehru government took over Air India through nationalisation. The government had paid Tata Group ₹2.8 crore and acquired a 100% share in the enterprise at that time but Tata group paid ₹18,000 crore to buy it back in 2021.
In a nutshell, it can be concluded that awful days are over for Air India and it’s all set to empower the nation with its remarkable performance. With Tatas on its side, it can be truly said that a brighter tomorrow awaits Air India by all means in all respects.