HomeBUSINESSAutos to steel conglomerate Tata has completed the first year of taking...

Autos to steel conglomerate Tata has completed the first year of taking over Air India from the government

Chief executive officer (CEO) and managing director (MD) Campbell Wilson said on Friday that they had made “quite remarkable progress in a very short time” as Tata Sons completed the first year of taking over the airline from the government.

Air India was founded in 1932 and nationalized in 1953. From the mid-2000s, Air India faced financial problems as it began to lose market share to low-cost airlines. In October 2021, the government announced that it had sold its 100% stake in Autos-to-steel conglomerate Tata for ₹18,000 crore.

Wilson wrote to airline employees that they were embarking on one of the most ambitious turnarounds in the history of international aviation.

Wilson said they have decided to create an airline that ranks among the best in the world and proudly represent the new India on the global stage. “And we’ve made some pretty remarkable progress in a very short time…”

An airline official said Air India’s average daily revenue has doubled over the past 12 months. “The average daily frequency on the domestic route has increased by 81% and even the number of call center staff has more than doubled, reducing the average passenger waiting time by almost 90%.

Read Now :<strong>Egypt is considering allocating land to Indian industries in the Suez Canal Economic Zone</strong>

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