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The meeting came after India saw the worst airplane crash in its history after London-bound Air India flight crashed onto a government medical college building.
Tata Group completed the acquisition of Air India from the Indian government in January 2022.
Air India statement: Air India has vehemently rejected reports that the Tata Group is looking to join hands with the global consulting giant McKinsey & Company to overhaul the airline. In a statement, Air India spokesperson denied the reports, saying “there have been no explorative discussions with McKinsey & Co. on any aspect of transformation for Air India. “
Earlier, several media reports stated that the Tata Group is seeking to bring McKinsey to overhaul its airline after the Ahmedabad tragedy.
The mishap with the London-bound Air India flight AI117 in Ahmedabad after takeoff, killing over 270 people, has brought a major issue into the limelight – the conditions and functionality of the aircrafts in Air India.
All passengers in the flight died but one passenger on 11A seat.
This isn’t McKinsey’s first engagement with the consulting firm. Its relationship with Air India started almost eight years ago. In 2017, Air India selected McKinsey to help develop its long-term strategic business plan — especially on cash-flow, route networks, marketing strategies and updating its loyalty program.
Tata Group Acquires Air India In 2022
Tata Group completed the acquisition of Air India from the Indian government in January 2022. This acquisition marked the return of Air India to the Tata Group, the company that originally founded it in 1932 as Tata Airlines.
the Tatas owns a 100% stake in Air India (a full-service airline operating in domestic and international markets) as also 100% in its subsidiary Air India Express (a low-cost carrier airline that focusses on short-haul international operations especially in the Middle East market) and 50% in the joint venture Air India SATS (airport services on ground and cargo handling). The total permanent and contractual employee strength of Air India & AIXL is 13,500.
The full-service airlines Air India and Vistara have officially merged, with Vistara ceasing operations under its own brand on November 12, 2024. The merged entity now operates under the Air India brand.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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