** Call it national government, call it emergency government – but the need for change is urgent ** Rains lash Dhaka, trigger snarls ** Global Covid cases near 527 million ** No advice to be economical, honest people are already in hardship ** Flooding affects millions in Sylhet ** India, Bangladesh train services to resume shortly ** Global Covid cases near 526 million ** Gridlocks greet capital commuters ** Consumers buying rice from a Food Directorate's Truck posted at Abdul Gani road in the capital on Thursday amid soaring prices of essential commodities. NN photo ** Is Bangladesh heading toward a Sri Lanka-like crisis? ** Veteran journalist Abdul Gaffar Chowdhury no more ** Averting currency crisis without power sector reform ** Boatmen struggle to cross the Buriganga River as water hyacinths cover part of the river near Islampur in the capital. NN photo ** Nasir, two others indicted in Pori Moni case ** Covid-19: Bangladesh logs 22 new cases, no death ** HC cancels bail of expelled JL leader Samrat ** Truck-microbus collision leaves 2 dead in Natore ** PK Halder now wants to return to Bangladesh knowing he has powerful friends to help him ** Sylhet flood situation worsens, thousands marooned ** Extradition of PK Halder has to go thru’ legal process: Indian envoy ** Govt fixes toll rate for using Padma Bridge ** Bangladesh marks Hasina's homecoming ** Global Covid cases near 522 million ** Children take bath in the Buriganga River in Dhaka to ward off the scorching summer heat. This photo was taken from Buriganga embankment on Monday. NN photo ** Sweden takes formal decision to apply for NATO membership **

Tata Group takes over Air India

28 January 2022
Tata Group takes over Air India

Business Desk :
Tata Group has officially taken over Air India from the government on Thursday.
Chairman of Tata Sons N Chandrasekharan met Indian Prime Minister Narendra Modi on Thursday, before the official handover of the Air India to the Tata Group. The Prime Minister's Office released the photo of the meeting between PM Modi and Tata chairman.
The official handover of Air India is the first major successful deal of privatisation in the last few decades. This also marks the homecoming of Air India, launched in 1932 by Tata Group's former chairman JRD Tata. As the chairman met PM Modi, senior officials reached the headquarters of Air India in New Delhi and the final handover process was completed with the members resigning from the Air India Board.
The Tata group has already planned the changes they are planning to bring in and the first has already been implemented on Thursday in four flights operating from Mumbai. The Tata Group provided enhanced meal services on AI864 (Mumbai-Delhi), AI687 (Mumbai-Delhi), AI945 (Mumbai-Abu Dhabi) and AI639 (Mumbai-Bengaluru).
In October last year, Tata Group won the bid the acquire the debt-laden Air India along with Air India Express and 50% state in AISATS. For smooth functioning of the airlines, an SBI-led consortium of lenders has agreed to provide loans to the Tata Group. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, reports said.
As of August 31, Air India had a total debt of ?61,562 crore. Around 75 per cent of this debt or ?46,262 crore will be transferred to a special purpose vehicle AIAHL before handing over the loss-making airline to Tata Group.

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