The Air India Group has started vacating its offices, which are currently being operated from government-owned properties, from this month, as part of its strategy to consolidate workspaces across the country. The loss-making Air India and its international budget arm Air India Express were taken over by the Tata Group on January 27 this year, after successfully winning the bid for the airline on October 8, last year. Besides these two airlines, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier, AirAsia India.
The building has been sealed for two days to conduct a thorough sanitisation of the building after an employee tested positive for the coronavirus.
The Tatas have the know-how to quickly close deals which can otherwise get caught in legal wrangle. In 2018, on the day the National Company Law Tribunal declared Tata Steel as the winner of the bid for bankrupt Bhushan Steel, Bhushan promoter Neeraj Singhal was planning to file for a stay order. He did get the case listed for the following day, but the judge did not admit it, deferring it until the following week. The Tatas used the narrow window of 48 hours to close the deal and take control of the company.
The Tatas are rather overwhelmed with some facets of the airline they have discovered, but even more unnerved by what they may not have yet uncovered, reveals Anjuli Bhargava.
Air India employees should adopt a "more determined approach" to ensure that the turnaround of the airline becomes a reality.
The national carrier recently invited expressions of interest to appoint a real estate firm to advice it on the deal.
Sources said valuation of all these assets was an ongoing process, and the mode and manner of disposal would be decided on a case-by-case basis
'It is not as bad an airline as it is made out to be: We serve wonderful food, the leg space is more, our cabin crew is warm and friendly.' 'The customer needs to be apprised of these things.'
Enormous debt isn't the only thing afflicting Air India. Its work culture is an equal culprit in its downfall.
Air India's outgoing CMD Rohit Nanda helped the airline tide over crisis.
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