‘Big challenge, as well as strong potential in future’: Ratan Tata on AI bid
Ratan Tata, JRD Tata’s successor and chairman emeritus of Tata Sons, on Friday welcomed the government accepting Tata Sons’ bid of ₹18,000 crore for the takeover of Air India, saying the airline provides a very strong market opportunity to the group even though it will take considerable effort to rebuild the debt-laden carrier.
“Welcome Back, Air India,” he said in a statement.
“The Tata Group winning the bid for Air India is great news,” he added, while also saying: “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 a consortium of the 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. Established by JRD Tata as Tata Air Services, the airline flew mail in the 1930s between Karachi, in then-undivided British-ruled India, and Bombay, now Mumbai.
“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,” Tata said.
Tatas, he said, 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 said thanking the government.
(With agency inputs)