- Prime Minister on Tata’s acquisition of Air India
- The Prime Minister’s response to the issue came a week later
The Prime Minister lauded the Air India-Tata deal, saying it would be a major step in India’s aviation sector. The Prime Minister’s response was that the acquisition would help develop the country’s aviation sector professionally and give more priority to facilities and safety.
Also Read: Air India to Tata after 68 years; Government confirmed
The Prime Minister made the remarks while inaugurating the Kushinagar International Airport in Uttar Pradesh. He said the inauguration of the new airport would benefit farmers, shopkeepers, workers and local industrialists. The tourism sector will also benefit to the maximum and it will also help the youth to get employment. He said more than 200 airports and heliports would be set up in the country in the next three to four years.
The Tata Group is being acquired by the state-owned Air India at a cost of Rs 18,000 crore. Earlier this month, the government approved the contract of Tallas Pvt Ltd, a branch of the Tata Group. The company is paying Rs 2,700 crore in cash to the government and taking over Rs 15,300 crore of Air India’s debt. The Tata group is selling 100 per cent government-owned stake in Air India.
Tata Group and SpiceJet have finally expressed interest in Air India. The Tata Group was the highest bidder for Air India. This is the reason why Air India, once the national carrier of the country, is getting back to its owners years later. Air India has a huge debt of about Rs 6,1560 crore