 "Confident Air India will bloom under Tata Sons, says aviation min Scindia")
Air India will boom under the wings of the new owners and the airline will pave the way for a thriving and robust civil aviation sector in India, Aviation Minister Jyotiraditya Scindia said after the carrier was handed over to Tata Sons on Thursday.
"It is indeed noteworthy that the disinvestment process of @airindiain has been brought to a successful conclusion in a time-bound manner," Scindia said on Twitter.
This proves the central government's ability, and the resolve to carry out disinvestment effectively in non-strategic sectors in the future, he noted.
"Best wishes to the new owners. I am confident that the airline will bloom under their wings, and pave the way for a thriving and robust civil aviation industry in India," he mentioned.
The Indian government handed over Air India to the Tata Group on Thursday, approximately 69 years after it was taken from the conglomerate.
The handover took place at the airline's headquarters here.
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Tata Sons Chairman N Chandrasekaran, Civil Aviation Secretary Rajiv Bansal and Air India Chairman and Managing Director Vikram Dev Dutt were among those who were present at the handover.
After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited -- a subsidiary of the Tata Group's holding company -- for Rs 18,000 crore.
Air India was started by the Tata Group in 1932 but after the country got independence, the then Prime Minister Jawaharlal Nehru nationalised it in 1953.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)