These has been a buzz since a long time that Tata Group will once again own Air India after 1953. While in the mean time government is exploring ways to revive the debt.
According to business tycoon Sunil Mittal, if Air India is to be privatised, then Tatas will be one of the better candidates to buy stake in the airline.
There are various proposals, including complete privatization, are on the table to reverse the fortunes of Air India but there is no finality yet.
A senior Civil Aviation Ministry official commenting on the news said that the Cabinet would first decide on the future course of action for Air India. Only then, it would be clear whether there would be disinvestment or some other route would be looked at for reviving the airline.
If Air India would be taken back by the Tata Group, then the airlines will trace back its roots to Tata Airline which was formed in 1932. The airlines was set up by the Tatas and then was rechristened as Air India but later it was nationalized.
Niti Aayog’s vice chairman, Arvind Panagariya said Air India should be privatised as its debt level is “simply not sustainable” and government action on the airline’s future course is likely within six months.