Tata Group may take over Air India

The history likely to be repeated as TATA group is going to take over major share in Air India. Actually Air India was under the management of TATA group during 1953 and later it was nationalized but now its reeling under neck deep debts. Now the government of India is planning to hand it over to some other private firm. The Tata group in partnership with Singapore Airlines may be looking at buying India’s national carrier Air India from the government.
Tata Group chairman N Chandrasekaran has held informal talks with the government, expressing preliminary interest in buying a controlling stake in Air India with 51 per cent equity, the report stated.  The government has been talking about its interest in privatizing the beleaguered airline that has been in losses for a decade. Recently, Finance Minister Arun Jaitley had said the aviation ministry has to explore all possibilities “as to how the privatization of Air India can be done”. Air India has a whopping debt of over Rs 52,000 crore. Air India has already received bailout packages worth about Rs 24,000 crore out of a total Rs 30,000 crore approved