Ratan Tata says it will take considerable effort to rebuild Air India

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As the government accepted Tata Sons bid of Rs 18,000 crore for the takeover of Air India, Ratan Tata welcomed the decision on Friday, saying that the group will take considerable efforts to rebuild the debt- ridden carrier and also added that the airline provides a very strong market opportunity to the group in the aviation industry. He said, Welcome Back, Air India and added that this is great news for the Tata Group in a statement.

At one point of time, Air India gained the reputation of being one of the most prestigious airline in the world under the leadership of Mr J R D Tata, Ratan Tata said on an emotional note.

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Also, he added that Mr J R D Tata would have been overjoyed if her was alive today. He thanked the government for opening select industries to the private sector, while adding that Tatas are having the opportunity to regain the image and reputation it enjoyed in earlier years.

Air India returns to Tata Group

The government said that a consortium led by SpiceJet promoter Ajay Singh has been beaten by the Special Purpose Vehicle (SPV) of the salt to software conglomerate to bag Air India.

This marks the return of Air India back to the Tata Group. Before the nationalisation, the group had founded the airline.