Tata group takes control of Air India

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NEW DELHI, Jan 27 (Reuters) – India’s Tata Group took control of state-run carrier Air India on Thursday, finalising a $2.4 billion deal to regain ownership of the airline after nearly 70 years.

The auto-to-steel conglomerate in October won the bid to take over Air India, seen as a victory for Prime Minister Narendra Modi’s government that for years struggled to privatise the financially troubled airline.

“We are excited to have Air India back in the Tata Group and are committed to making this a world-class airline,” Tata Sons chairman N Chandrasekaran said in a statement.

(Reporting by Aditi Shah; Editing by Sanjeev Miglani)

Photo – An Airbus A321-211 of Indian carrier Air India approaches for landing at Chhatrapati Shivaji Maharaj International Airport, in Mumbai, India. EPA-EFE/DIVYAKANT SOLANKI

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