'Time to look ahead, journey starts now': Tata Group Chairman tells AI staff

27-01-2022 Thu 22:07 IST | IANS | Business
'Time to look ahead, journey starts now': Tata Group Chairman tells AI staff

New Delhi, Jan 27:  Tata Group Chairman, N. Chandrasekaran, on Thursday called upon Air India employees to work together to build ‘the airline our country needs'.

In a communication to the employees, Chandrasekaran said: "Now is the time to look ahead."

The communication to Air India employees came on a day when Tata Group subsidiary, Talace Private Limited, formally took over the managerial control of the airline.

"I, like many others, have enjoyed reflecting on stories from the airline's brilliant past. My first flight was with Air India in December 1986, and I will never forget how special it felt to be onboard, or the exhilaration as we soared into the sky," the letter read.

"Today is the beginning of a new chapter. The entire nation's eyes are on us, waiting to see what we will achieve together. To build the airline our country needs, we need to look to the future," it added.

Notably, the purpose of the letter was to welcome the employees into the Tata Group "family".

"Our group has its own storied past. I have learned that to preserve what is best about the past, requires constant change. It is by evolving, adapting and embracing the future that we best honour a glorious history," Chandrasekaran said in the letter.

It added that the "golden age" of Air India lies ahead and the "journey towards it starts now".

The Centre on Thursday handed over the management control of Air India to Tata Group subsidiary Talace.

With this, Air India's strategic disinvestment was complete after the Centre received a consideration of Rs 2,700 crore from the 'Strategic Partner' -- Talace -- which is a wholly owned subsidiary of Tata Sons.

Besides the upfront payment, Talace will retain a debt of Rs 15,300 crore.

The transaction covered three entities - Air India, Air India Express and AI SATS.

Post the formal take over, a new board was constituted which included Tata Group's executives.



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