Air India has its origin as Tata Air services later renamed to Tata Airlines founded by J.R.D Tata of Tata sons, an Indian aviator and business tycoon. In April 1932, Tata won a contract to carry mail for Imperial Airways and the aviation department of Tata Sons was formed with two single-engine de Havilland Puss moths.
on 15th October 1932, Tata flew a puss moth carrying air mail from Karachi to Bombay and the aircraft continued to madras piloted by Nevil Vincent, a former Royal Air force pilot and friend of Tata.
In its first year of operation, the airline flew 16,000 miles carrying 156 Passengers and 9.72 tonnes of mail and made a profit of Rs.60,000.
During the second world war, the airline helped the Royal Air force with troop movements, shipping of supplies, the rescue of refugees and maintenance of Aircraft. After world war was regulated commercial service was restored in India and Tata Airlines became a public limited company on 29 July 1946. under The name of Air India. After Indian Independence, 49% of the airline was acquired by the government of India in 1948. And 25% to Tata and the rest for general purposes. J.R.D Tata continued being the chairman till 1998. In 1976, J.R.D Tata was summarily removed by the moraji Desai government from the chairman of Air India.
Following the liberalization of 1991, more and more foreign and Private Companies entered the Indian aviation sector during 1994-1995. Rates Plummated during the match. Better service also began to be Received. Air India had to struggle to Keep up with some of the aviation industry. The Vajpayee government sold 40% of Air India in the financial year 2000-2001. Tatas attempt to acquire a stake in Singapore Airlines fails in trade union Protests. Vistara Airlines has earned a good reputation with Singapore Airlines.
In 2018, Air India agreed to be sold by its 76 per cent stake.70 per cent stake in the company for Rs.33,392 crore, including liabilities. In 2020 it agreed to be sold again, but this time it was for 23,286 crores. And finally, tata owned it for 18,000 crores.
Air India's comeback was a great moment for everyone and N. Chandrasekaran, chairman, Tata sons Pvt.Ltd commented, " As the tata group, we are delighted to be declared as the winner of the bid for Air India. This is a historic moment, and it will be a rare privilege for our group to own and operate the country's flag bearer airline. It'll be Our endeavour to build a world-class airline that makes every Indian proud. On this occasion, I would like to pay tribute to J.R.D Tata, pioneer of Indian aviation, whose memory we Cherish".
Fathima Huda
Shifna.K.T
First sem B Com Finance
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