SpiceJet’s Ajay Singh Congratulates Tatas On Winning Air India Bid

SpiceJet's Ajay Singh Congratulates Tatas On Winning Air India Bid

New Delhi: SpiceJet Chairman and Managing Director Ajay Singh on Friday congratulated the Tata Group on winning the Air India bid. Tata Sons’ special purpose vehicle (SPV) Talace Pvt Limited placed a successful bid of Rs 18,000 crore to acquire the debt-laden national carrier. Mr Singh, who also took a part in the bidding process in his private capacity, put a bid of Rs 15,100 crore against the reserve price of Rs 12,906 crore.

The SpiceJet chairman, in a statement, said: “I congratulate the Tata Group on winning the bid for Air India and wish them all the success. It was my honour and privilege to be shortlisted for bidding for Air India. I am confident that the Tata Group will restore the glory of Air India and make all of India proud.”

He also thanked the government on the successful disinvestment of Air India and stated that it “ran a transparent and flexible process and gave new impetus to India’s disinvestment program.”

To conclude, he said, “I have been an Air India fan all my life and it’s time for the Maharaja to reclaim its position as a leading airline of the world.”

Tata Sons chairman emeritus Ratan Tata also shared an emotional note on Twitter and wrote, “Welcome Back, Air India.”

“On an emotional note, Air India, under the leadership of Mr JRD Tata had, at one time, gained the reputation of being one of the most prestigious airlines in the world. Tatas will have the opportunity of regaining the image and reputation it enjoyed in earlier years. Mr JRD Tata would have been overjoyed if he was in our midst today,” Mr Tata said.

Welcome back, Air India ???????? pic.twitter.com/euIREDIzkV

— Ratan N. Tata (@RNTata2000) October 8, 2021

Air India began life as Tata Air Services in 1932 when it was founded by JRD Tata. The company was nationalised by the government in 1953. JRD Tata continued to be its chairman till 1977.

Air India became the first Asian airline to induct jet aircraft and started flying to New York in 1960.

Air India has accumulated losses of over Rs 70,000 crore and the government loses nearly Rs 20 crore every day.

At present, the Tata Group operates Vistara in partnership with Singapore Airlines and AirAsia India in partnership with Malaysia’s AirAsia.

(This Article has not been edited by NEWSUP18 and it is auto-generated from a syndicated feed.)

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