Timeline: Air India Returns To Tatas After 68 Years

The Air India deal completes a full circle as the airline was founded in 1932 under the name Tata Airlines by family scion JRD Tata.

Timeline: Air India Returns To Tatas After 68 Years

Air India was founded by JRD Tata as Tata Airlines, India's first airline, in 1932. (File)

Bengaluru:

Tata Sons regained control of Air India - nearly 70 years after its nationalisation - with the government picking up the salt-to-software conglomerate as the winning bidder for the debt-laden state-run airline.

The deal completes a full circle as Air India was founded in 1932 under the name Tata Airlines by family scion and aviation enthusiast Jehangir Ratanji Dadabhoy Tata.

The following is a brief history of the loss-making airline:

October 8, 2021 - The government announces Tata Sons as the winning bidder for its 100% stake in Air India, after the conglomerate bid Rs 18,000 crore ($2.40 billion).

September 15, 2021 - The Union finance ministry says Air India has received financial bids from Tata Sons and Ajay Singh, promoter of budget airline SpiceJet.

October 29, 2020 - The government gets two bids after extending the deadline several times.

August 7, 2020 - At least 17 people are killed and more than 100 injured after a plane belonging to budget arm Air India Express overshoots the runway near a southern Indian city.

January 27, 2020 - India renews push to sell stake.

December 12, 2019 - The government decides to sell 100% of its stake after failing to find takers for its offer of 76% and full debt of the company. Provides flexible debt assumption terms.

June 20, 2018 - The government shelves a plan to sell a 76% stake due to lack of interest from bidders.

May 31, 2018 - The government's offer to sell a stake in Air India fails to attract a single bidder by the deadline, with potential buyers citing onerous conditions.

March 28, 2018 - The government plans to sell a controlling stake, along with roughly $5.1 billion of the carrier's debt.

April 2012 - The government approves a $5.8 billion bailout for Air India, which was to be received by 2020.

July 2009 - The government appoints State Bank of India to prepare a roadmap for the airline's recovery after years of losses under state control and emergence of new players.

1953 - Air India nationalised; splits into two - a domestic airline and an international carrier.

1946 - Tata Airlines converted into a public company and renamed Air India Ltd. In the same year, the airline adopts its widely recognised 'Maharaja' mascot.

1932 - Air India founded by JRD Tata as Tata Airlines, India's first airline. It operated only domestic flights at that time.

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