Page 22 - AAA SEPTEMBER-OCTOBER 2021 Online Magazine

REPORT

A New in Low Cost Carrier (LCC) Air Asia India and full

service airline, Vistara.

Once the deal is concluded in entirety, the Tatas
will own a 100% stake in AI and its low-cost
subsidiary AI Express which is headquartered
Beginning in Kochi. While AI is a full service airline oper-
ating in domestic and international markets, AI
Express is a low-cost carrier that focusses on
short-haul international operations especially
in the Middle East market.

N. Chandrasekaran, Chairman, Tata Sons Pvt
AIR INDIA FINDS A NEW BUYER IN TATA GROUP, Ltd said, “At the Tata group, we are delighted
ALLOWING THE INDIAN GOVERNMENT TO PART to be declared as the winner of the bid for Air
India. This is a historic moment, and it will be a
WITH THE LOSS MAKING FLAG CARRIER rare privilege for our group to own and operate
the country’s flag bearer airline. It will be our
Atul Chandra endeavour to build a world-class airline that
makes every Indian proud. On this occasion, I
would like to pay tribute to JRD Tata, pioneer
Indian business conglomerate Tata Group has succeeded in its of Indian aviation, whose memory we cherish.”
bid for the nation’s flag carrier Air India (AI) with a winning offer
of Rs180 billion as its Enterprise Value (EV) consideration for 100 AI’s fleet comprises of 45 twin-aisle jetliners
per cent shares of AI along with its shareholding in AI Express along with 72 single-aisle jetliners, while AIXL
(AIXL) and AISATS. Originally founded by the Tata Group almost which operates 24 narrow-body aircraft, adding
90 years ago, AI is now back with the Tata’s, who also own stakes up to a total of approximately 141 aircraft. A

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