No one can easily forget Air India, which has been plagued by major debt problems. At one point the employees were stuck in a financial crisis unable to pay their salaries
If at some point the shares of Air India are not sold to the private sector, there is no other option but to put a big lock on Air India. It is noteworthy that the government has said that the jobs of Air India employees will be lost.
It was in the midst of so many challenges and crises that the government decided to sell its stake in Air India.
Acquisition of Tata Group
To make matters worse, the corona still exacerbated the problem. It was in this context that the Tata Group acquired Air India for Rs 18,000 crore. This marks the return of Air India to Tata after 68 years.
Krajvity, Futures Deposit Fund
This was initially opposed by many, but was later accepted without further ado. Even though Tata Group has now acquired Air India, the government has told Parliament that under the applicable laws, Air India employees will continue to receive gratuity and provident fund funds.
Signing the contract
In a written reply to the Rajya Sabha, Civil Aviation Minister VK Singh said the government had signed an agreement to look after the interests of employees. Accordingly, it has said that Growvity and PF benefits should continue to be provided to employees.
When will Tata take over?
Singh said the government would also look into the medical benefits available to retired and eligible Air India beneficiaries. It may be recalled that recently the Minister of Civil Aviation Jyotiraditya Cynthia had said that the transfer of Air India to Tata Sons would be completed in the next 1 to 1.5 months.
Unforgettable 2024 .. After 68 years, Tata’s comfortable Air India again ..!
For Tata, 2024 will truly be the most memorable year of his life.
Because after 68 years, Tata is back in the hands of Air India.
Tata Airlines was started by the Tata Group in 1932 and renamed Air India in 1946. Following this, it has been nationalised in 1953 by the Govt.of India as a development measures.
The government is making a serious effort
Meanwhile the last few years have been tumultuous in the debt problem. In other words the series saw a loss. Air India, which was mired in billions of rupees in debt, was in dire straits, unable to pay its employees and unable to pay for fuel. Meanwhile the Corona has further aggravated the situation of Air India. It was at this point that the government made a serious effort to sell its stake.
Tata convenient Air India
However these works suffered major setbacks due to the corona. The Tata group had also applied for the auction, which was somehow planned rather than a one-way auction. Air India successfully bought the auction for Rs 18,000 crore.
so happy
Faced with many struggles and challenges, Air India took over from Tata amidst fierce struggles. Meanwhile, he shared an old photo on his Twitter page as Welcome Back Air India with the hand that bought Air India. The truth is that if any other companies had taken over Air India, would they have been so happy? Is something to think about.
2024 is an unforgettable year
Because a company that has been out of its hands for 68 years, it will be special when it finds itself again. So in fact, 2024 will be an unforgettable year for Ratan Tata, despite the many challenges.
World class company
Tata, which is already a giant in the cologne range from salt to software, has successfully captured Air India. You can no longer be a pioneer in the airline business.
Tata, which already owns shares in both airlines, now owns 84% of Air Asia and 51% of Vistara. In this case, Tata Sons has also acquired Air India. There is no doubt that this will help Air India to become a world class company.
