Why did Indian Government sell Air India to Tata Group?
The Indian Government decided to sell Air India to Tata Group, one of India's largest conglomerates, in 2021. This decision was taken in order to reduce the government's financial burden and revive the ailing airline. Air India is India's flag carrier and has been under government ownership since its inception in 1932. Despite several attempts to revive the airline, the government was unable to turn the airline around due to financial constraints. The sale to Tata Group, which is expected to take several months to complete, will not only help the government to reduce its financial burden, but also help the airline to return to profitability.Read More