As suggested by Niti Aayog, Air India is going to privatize the company. Many people criticized the news but some too appreciated. According to the report, Tata Group along with Singapore Airlines is planning to buy India’s national carrier Air India from the government. If the news came out to be true, Tata Group will once again own the airlines. Before being nationalized the Tata Group owns the airline in 1953.
Tata Group chairman, N Chandrasekaran has held informal talks with the government to buy 51% of the equity while the remaining 49% could be brought by the Singapore Airlines.
The government is taking interests in privatizing the beleaguered airline which has been in the loss for a decade. Air India has a whopping debt of over Rs 52,000 crore. Arun Jaitley while mentioning aviation ministry said that they need to explore all the possibilities as to how the privatization of Air India can be done.
But Modi government has assured Tata Group that it will bring down debt substantially to make Air India a profitable entity.