Air India's takeover by Tata Group: It's a win-win situation for all, says Jyotiraditya Scindia
Civil Aviation Minister Jyotiraditya Scindia added Air India's takeover by Tata Group also sets in perspective a 69-year-old history, which started on a wrong step by the nationalization of an airline that actually belonged to the private sector.
After officially acquiring Air India, Jyotiraditya Scindia, the Civil Aviation Minister of India, complimented the Tata group. Scindia said, not just he, but also the Civil aviation fraternity and people of India as a whole stand to gain from the culmination of the two-decade-long process. He is delighted that they have completed this transaction.
Scindia expressed confidence in the Tata Group's success, saying with Tata's infusion of challenges and resources, Air India will once again command the high skies that it has always had.
Scindia wished the Tata Group well for the future. He added that we want to wish them all the best, they have all the required talent and strategy elements to succeed. May they fly high.
Scindia further praised the Narendra Modi-led government for its initiative and determination. He said the process had seen the light of the day due to the government decision and Prime Minister's determination to conclude the matter. Also said it's a testament to Prime Minister Narendra Modi's government and his initiative that the government's responsibility is not to be in business but to create an environment for business to flourish. Scindia criticized the Congress government decision to nationalize Air India back in 1953. He said it also sets in perspective a 69-yr-old history that started on the wrong step by the nationalisation of an airline that truly belonged to the private sector; it's going back to the private sector.
Scindia also added according to him, it's a win-win situation for all stakeholders concerned, for government and Tata Group. This transaction represents a huge quantum leap in the Civil Aviation sector's capabilities.
Scindia's words came a day after the Tata Group officially took over Air India, after 69 years.
The government received Rs 2,700 crores, after which it transferred the shares, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
In 1932, Air India was started by the Tata Group. However, the airline was nationalised in 1953, post independence by Prime Minister Jawaharlal Nehru.