NE BUSINESS BUREAU
NEW DELHI, OCT 8
Ratan Tata on Friday welcomed the government accepting Tata Sons’ bid of Rs 18,000 crore for the takeover of Air India, saying the airline provides a very strong market opportunity to the group even through it will take considerable effort to rebuild the debt-laden carrier.
“Welcome Back, Air India,” he said.
Welcome back, Air India 🛬🏠 pic.twitter.com/euIREDIzkV
— Ratan N. Tata (@RNTata2000) October 8, 2021
“The Tata Group winning the bid for Air India is great news,” he said in a statement. “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.”
The government on Friday announced that an SPV of salt-to-software conglomerate beat a consortium led by SpiceJet promoter Ajay Singh to bag Air India.
This marks the return of Air India to Tatas’ folds. Tatas had founded the airline before it was nationalised.
“On an emotional note, Air India, under the leadership of Mr J R D Tata had at one time gained the reputation of being one of the most prestigious airlines in the world,” Tata said.
Tatas, he said, will have the opportunity of regaining the image and reputation it enjoyed in earlier years.
“Mr J R D Tata would have been overjoyed if he was in our midst today,” he said thanking the government for its opening of select industries to the private sector.
SpiceJet’s Ajay Singh lauds Tatas on winning Air India bid
SpiceJet Chairman and Managing Director Ajay Singh on Friday congratulated the Tata Group on winning the Air India bid. Tata Sons’ special purpose vehicle (SPV) Talace Pvt Limited placed a successful bid of Rs 18,000 crore to acquire the debt-laden national carrier.
The SpiceJet chairman, in a statement, said: “I congratulate the Tata Group on winning the bid for Air India and wish them all the success. It was my honour and privilege to be shortlisted for bidding for Air India. I am confident that the Tata Group will restore the glory of Air India and make all of India proud.”
He also thanked the government on the successful disinvestment of Air India and stated that it “ran a transparent and flexible process and gave new impetus to India’s disinvestment program.”
I congratulate the Tata group on winning the bid for Air India and wish them all success. I am confident that the Tata Group will restore the glory of Air India and make all of India proud. I congratulate @PMOIndia on the successful disinvestment. @RNTata2000 @JM_Scindia
— Ajay Singh (@AjaySingh_SG) October 8, 2021
“I have been an Air India fan all my life and it’s time for the Maharaja to reclaim its position as a leading airline of the world,” Ajay Singh added.
