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Family Aid 2020
   Vol. 20 No. 39
Monday October 11, 2021

Tata Sons Regain Air India

TATA Sons Regain Air India

  Tata Sons acquired Air India Limited on Friday. A bid of 18,000 crore rupees (USD$2.4 billion) did the trick as Tata bought back the airline it sold to the Indian government more than half a century ago.
  On July 29, 1946, J.R.D. Tata that operated TATA Air Lines secured four surplus DC-3s and with the capitalization of £3.73 million pounds changed the name to Air India when it began service to all the major cities in India and Karachi and Colombo.
  So now Tata can say what goes around comes around obviously holding a 100 percent stake in Air India and its low-cost arm, Air India Express plus a 50 percent stake in ground-handling company Air India SATS Airport Services Private Limited (AISATS). If founder J.R.D. Tata were to return to this dimension, looking over the 12,000 people at the airline and the rocky road of the past 50 years, he might lend caution to Tata Sons, sharing some wisdom born of the ages of how "billionaires can become millionaires operating airlines".
  As of August 31, 2021, Air India has a total debt of 61,562 crore rupees, out of that 15,300 crore rupees will be taken over by the Tata Sons. The rest or, 46,262 crore rupees will be transferred to Air India Assets Holding Limited (AIAHL). AIAHL is a SPV (subsidiary company) formed by the government. Of course our hope is that it never happens, but guess who might eventually foot the bill for the 46,262 crore rupees?

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Vol. 20 No. 38
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Publisher-Geoffrey Arend • Managing Editor-Flossie Arend • Editor Emeritus-Richard Malkin
Film Editor-Ralph Arend • Special Assignments-Sabiha Arend, Emily Arend

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