Tata Group’s presence poised to open a new chapter in India’s aircraft financing
Air India is expanding its footprint locally and globally steered by chairman N Chandrasekaran and Tata Trusts chairman Noel Tata; image credit: Collage by Sadhana Saxena
Synopsis
Air India’s revitalisation under the Tata Group is catalysing a shift in Indian aviation finance. Once hesitant, Indian banks are now embracing aircraft financing.
Three years ago, N. Chandrasekaran, chairman of the USD165-billion Tata Group, drove into the capital’s Airlines House in a black Mercedes-Benz to take over Air India. For him, it was clear from the outset: this was not just another business venture. For the Tatas, it meant much more. They wanted to restore Air India to its former glory as a global player with scale and an upmarket brand image. Since then, over USD3 billion has been invested
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