New Delhi. The government’s attempt to sell the debt-ridden Air India finally succeeded. The Tata Group has once again taken over the reins of Air India. Tata Group made a bid of Rs 18,000 crore for Air India and took the company name. However, this journey was not that easy either. Efforts were on to sell it for the last 21 years. Meanwhile, many governments have come and gone but could not sell it.
Air India is selling for 21 years
On 27 May 2000, the government for the first time approved the sale of 60 percent stake in Air India. However, at that time things did not work out. Since then this process of selling is going on. When NITI Aayog recommended public sector disinvestment in May 2017, Air India was also there. In 2018 also tenders were invited to sell its 76 percent stake. After this, on 12 December 2019, Hardeep Singh Puri announced the sale of 100 percent stake in Air India in Parliament, whereas earlier in 2018 it was announced to sell 76 percent stake in it.
Also read- Air India’s ‘homecoming’ after 68 years, now Ratan Tata will take over the command, the government has stamped
Know when important decisions were taken for the company?
For the first time in 2000, there was talk of selling Air India.
In 2003, the Naresh Chandra Committee proposed the privatization of Indian Airlines and Air India, which was strongly opposed.
Indian Airlines was merged with Air India in 2007-08.
There was talk about selling even during the Congress government, but the Manmohan government put this proposal in cold storage and under the leadership of Praful Patel, the focus was on increasing both the national services.
Tendering took place for the first time in 2018, in which it was announced to sell 76 percent stake.
Tendering took place for the second time in 2020, in which the government talked about selling 100 percent stake and till now the date has been extended 4 times.
Air India Journey…
JRD Tata started in 1932 under the name “Tata Airlines”. Initially it provided weekly flight service from Karachi to Madras, which went via Ahmedabad and Bombay. The airline flew 2,60,000 km in its first year carrying 155 passengers and 10.71 tonnes of letters. During this it made a profit of Rs 60,000. After the Second World War, this airline turned into a public limited company and its name was Air India. Immediately after this, in 1948, the Government of India bought 49% stake in it. Then in 1953, the government passed the Air Corporation Act and bought a majority stake in the airline from JRD Tata.
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Orignally published at Tailored Stash
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