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Tata Sons acquires ownership of India's loss making national carrier Air India

The Modi government has sold India's loss making national carrier Air India to the Tata group, the country's largest conglomerate.

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Tata Sons acquires ownership of India's loss making national carrier Air India
GNN Media: Representational Photo

The government has sold the airline to the company, which was the highest bidder at nearly $2.4bn (£1.7bn).

The Tata group originally founded the airline in 1932 before it was taken over by the government in 1953.

The government had for years been trying to sell the airline, which has racked up losses worth $9.5bn.
But it recently sweetened the deal by making the terms of the debt less onerous for the buyer. It's still unclear how much debt the Tata group will take on under the new terms.

Minutes after the acquisition, Tata Sons Chairman Emeritus Ratan Tata tweeted a photograph of the firm's former chairman JRD Tata on the tarmac with an Air India plane in the background.

The sale is a boost to Prime Minister Narendra Modi who had been keen to sell the government's entire interest in the airline.

Air India has many assets, including prized slots at London's Heathrow airport, a fleet of more than 130 planes and thousands of trained pilots and crew.

Tata Sons already run two airlines in India - Vistara, a full service carrier in partnership with Singapore Airlines, and AirAsia India, a budget airline in partnership with Malaysia AirAsiaBhd.

SOURCE: BBC NEWS

Faisal Ali Ghumman

Faisal Ali Ghumman is a senior editor at GNN, known for writing top quality content which garner very high readerships and has been covering every field of journalism, including politics, media, sports and scholarly articles. Faisal Ali Ghumman is nothing less than a Veteran Editor and has been writing for GNN for the past 4 months.

Pakistan

COVID-19: Pakistan reports 1,004 cases, 28 deaths

According to National Command and Operations Center (NCOC), around 1,004 cases of coronavirus were reported while 28 people succumbed to the disease in the last 24 hours, taking the total death toll to 28,134.

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COVID-19: Pakistan reports 1,004 cases, 28 deaths

Islamabad: Amid a steady decline in Covid-19 infections, Pakistan's coronavirus positivity ratio further fell to 2.31% with 1,004 new cases.

According to National Command and Operations Center (NCOC), around 1,004 cases of coronavirus were reported while 28 people succumbed to the disease in the last 24 hours, taking the total death toll to 28,134.

Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than the previous three COVID waves.

The total number of cases has reached 1,258,959.

As many as 1,188,562 patients have recovered from the disease with 2,473 critical cases.

Punjab

The number of patients swelled to 436,197 in the province with 12,785 causalities.

Sindh

The number of infections has surged to 462,859 in the province, while the death toll has reached 7,497.

Khyber Pakhtunkhwa

The confirmed cases have surged to 175,974 in the province with 5,645 casualties.

Balochistan

There are 33,076 confirmed cases while 350 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 34,350 coronavirus cases in the AJK while the death toll has reached 739. On the other hand, there are 10,350 cases in GB with 186 coronavirus deaths.

Islamabad

There are 106,153 cases in the capital city while 932 people have lost their lives. 

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Pakistan

Pakistan logs 1,212 new COVID cases; positivity ratio at 2.60%  

According to National Command and Operations Center (NCOC), around 1,212 cases of coronavirus were reported while 39 people succumbed to the disease in the last 24 hours, taking the total death toll to 27,986.

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Pakistan logs 1,212 new COVID cases; positivity ratio at 2.60%  

Islamabad: Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than the previous three COVID waves. Today, the daily positivity rate in-country is at 2.60%.

According to National Command and Operations Center (NCOC), around 1,212 cases of coronavirus were reported while 39 people succumbed to the disease in the last 24 hours, taking the total death toll to 27,986.

The total number of cases has reached 1,253,868.

As many as 1,181,054 patients have recovered from the disease with 3,079 critical cases.

Punjab 

The number of patients swelled to 434,139 in the province with 12,724 causalities.

Sindh

The number of infections has surged to 461,258 in the province, while the death toll has reached 7,451.

Khyber Pakhtunkhwa

The confirmed cases have surged to 175,012 in the province with 5,608 casualties.

Balochistan

There are 33,004 confirmed cases while 349 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 34,278 coronavirus cases in the AJK while the death toll has reached 738. On the other hand, there are 10,338 cases in GB with 186 coronavirus deaths.

Islamabad

There are 105,839 cases in the capital city while 930 people have lost their lives.

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Entertainment

Marvel’s Eternals soundtrack to feature ‘Friends’ by BTS 

The full soundtrack from the upcoming Marvel film Eternals was recently unveiled.

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Marvel’s Eternals soundtrack to feature ‘Friends’ by BTS 

Seoul: Friends, a song produced by BTS’ Jimin and V is reportedly being featured in the latest installment of Marvel Film "The Eternals" directed by Chloe Zhao. The song was produced by band member Jimin.

The full soundtrack from the upcoming Marvel film Eternals was recently unveiled. Apparently, the information came from a document that Disney released.

The news got confirmed when Marvel News shared a list of songs included in the soundtrack for Eternals. 

Beside Friends, the included songs are Celine Sharma’s Nach Mera Hero, Juice by Lizzo, and Time by Pink Floyd. 

Fans became excited and took it to Twitter as 'PRODUCER JIMIN,' and 'VMIN' started to take over internet trends in multiple countries.

Written by Matthew and Ryan Firpo, Eternals has a huge ensemble cast— featuring Richard Madden, Gemma Chan, Kumail Nanjiani and others.

The upcoming film is confirmed to be set partially in the past and in the future. 

The Marvel franchise is set to hit cinemas on November 5, 2021.  

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