Tata Group may buy Air India

There were many reports about Privatising India's National Carrier 'Air India' after Arun Jaitley (Finance Minister), in an inte...

There were many reports about Privatising India's National Carrier 'Air India' after Arun Jaitley (Finance Minister), in an interview with a TV Channel, said that to keep Air India running, we have invested INR 50,000 Crores. That money is government's money, that's your money. It could have been used for school education. If 86% of flying can be handled by the private sector, it can also handle 100%. Some Media reports says that TATA Group in partnership with Singapore Airlines may buy the Air India. In the year 2013, Ratan Tata had said the Tata Group would 'be very happy to look' at Air India as and when privatization happens

The Government think tank 'Niti Aayog' has recommended to the Prime Minister's Office a complete privatisation of Air India. Air India, which has over INR 52,000 Crores debt burden, is surviving on a INR 30,000 Crores bailout package extended by the UPA government in 2012. Air India was originally launched in 1932 by 'Tata Airline' by Tata Group patriarch JRD Tata. It was incorporated as Air India International in 1948 as a joint venture between the Government of India and the Tata Group to start overseas services. And after 5 Years the government decided to nationalise the aviation industry bringing the airline under its control.