'Welcome back, Air India', says Ratan Tata as airline returns to Tata Group's fold after 68 years

New Delhi: Getting emotional after winning the bid for Air India, Tata Sons Chairman Emeritus Ratan Tata said, "Welcome back, Air India!"

The Tatas getting back the control of Air India completes the full circle for the airline which was founded in 1932 by JRD Tata, the legendary industrialist and an aviation enthusiast.

The airline was known as Tata Airlines before it was nationalised almost 68 years back.

In a media statement, Ratan Tata thanked the government for its recent policy of opening select industries to the private sector.

"The Tata group winning the bid for Air India is great news! While admittedly it will take considerable effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata group’s presence in the aviation industry," he said.

On an emotional note, he further said Air India under the leadership of 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. JRD Tata would have been overjoyed if he was in our midst today," Ratan Tata said.

Talace Pvt Ltd, a wholly owned subsidiary Tata Sons Pvt Ltd quoted Rs 18,000 crore for acquiring the airline. The other bidder, a consortium led by SpiceJet promoter Ajay Singh offered to pay Rs 15,100 crore for the control of Air India. (UNI)

(Photo Credit: Twitter/@RNTata2000)