Ratan Tata on Friday wrote an emotional note after his company, Tata Sons, won the bid for acquiring India’s national carrier, Air India. Sharing the note, Tata wrote, “Welcome back, Air India.”
The noted industrialist wrote, “The Tata Group winning the bid for Air India is great news. While admittedly it will take great effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata Group’s presence in the aviation industry.”
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Tata Sons have also acquired 50% stakes in ground handling company Air India SATS Airport Services Private Limited as well as acquiring 100% stakes in Air India and its low-cost arm, Air India Express.
Ratan Tata said this was an emotional moment as he wrote, “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.”
He added, ‘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 concluded, “We also need to recognise and thank the government for its recent policy of opening select industries to the private sector.”
Ironically, Air India was originally known as Tata Airlines before the Indian government took control of the company in 1953, six years of independence from British rule. JRD Tata, however, remained its chairman until 1977.
