scorecardresearch
Follow Us:
Thursday, October 21, 2021

Tata back in Air India cockpit: A timeline

On March 8, 1948, Air-India was International formally incorporated with 49% capital participation from the Government of India.

By: ENS Economic Bureau | New Delhi |
Updated: October 9, 2021 8:33:21 am
tata sons air india group acquireTata Sons will regain control of Air India as it takes over 100 per cent of the government’s stake in the national carrier. (Express Archive)

October 15, 1932: Tata Airlines inaugural service operated on Karachi-Ahmedabad-Bombay route on a de Havilland Puss Moth aircraft flown by JRD Tata.

January 1, 1946: Civil aviation in India is restored to commercial status post World War II.

August 1946: Tata Airlines gets converted into a public company under the name of Air-India.

August 1947: India gains independence from the British rule.

March 8, 1948: Air-India International formally incorporated with 49% capital participation from the Government of India.

March 1953: Parliament passes the Air Corporations Act amalgamating all scheduled airlines into two corporations: Indian Airlines and Air-India International. With this, government owns majority stake in the two airlines.

August 1, 1953: Indian Airlines takes over the domestic business of
Air-India.

April 19, 1960: Air-India International enters the jet age with Boeing 707 planes going into service.

January 1, 1978: Air India’s Boeing 747 crashes off the coast of Bombay killing 213 people on board.

February 1, 1978: Morarji Desai government removes Chairman JRD Tata from the boards of Air India and Indian Airlines.

April 1980: Indira Gandhi government reinstates JRD Tata on the boards of both airlines but not as Chairman.

1986: JRD Tata steps down from the boards, his successor at Tata Sons Ratan Tata appointed as Air India Chairman by Rajiv Gandhi government.

1989: Ratan Tata steps down as Air India Chairman.

2001: Tata Sons partners with Singapore Airlines to bid for a 40% stake in Air India, in what was government’s first attempt at disinvesting the airline but Singapore Airlines withdraws from the bid.

May 2004: Air India launches low-cost subsidiary Air India Express.

2006: Air India places order for 68 wide-bodied Boeing aircraft.

2007: Manmohan Singh government merges Air India with Indian Airlines.

2012: Government approves the turnaround plan and the financial restructuring plan for Air India. By now, the airline has accumulated Rs 43,000 crore in debt and losses of Rs 20,000 crore.

2018: Narendra Modi government launches fresh disinvestment attempt to sell 76% stake in Air India. Not a single bid received.

January 2020: Government makes another attempt at disinvesting Air India, this time 100% of it.

September 2021: Tata Sons and SpiceJet promoter Ajay Singh place financial bid for Air India.

October 8, 2021: Government announces Tata Sons will acquire Air India.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement
X