Business
Maharaja set for take-off: Tatas get control of Air India, after 7 decades
Tata Group on Thursday regained ownership of Air India, 69 years after it was nationalized. The salt-to-software conglomerate has pledged to turn the money-losing airline into a world-class airline.
The handover is the result of the government’s attempt to transfer ownership of the loss-making airline to a private owner. The airline has not been profitable since its merger with Air India in 2007-08 and reported a loss of Rs 7,017 crore in FY21.
The acquisition gives Tatas a 100% stake in Air India, its low-cost subsidiary Air India Express, and a 50% stake in ground handling company AISATS.
Post-acquisition, Tata Group chairman N Chandrasekaran said the company’s operations will change. “My first flight was on Air India in December 1986 and I will never forget the special feeling of being on board, or the excitement when we took to the skies. It’s a good memory, but now it’s looking forward The time has come for the future. I am writing this letter on behalf of the Tata Group to welcome you into our family. I have learned that preserving the best of the past requires constant change. It is by developing, adapting and embracing the future that We can best honour the glorious history,” Chandrasekharan said in his first message to Air India employees.
Complete News Source : Business Standard
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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