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Tata Group chairman Ratan Tata says JRD Tata who ran the company for most of the modern period would be overjoyed if he were alive today to learn about the return of Air India to the Tata Group. Under a deal with the Indian government Tata will pay $2.4 billion to cover one fourth of Air India's debt. The government will give up ownership in the airline.

AIr India started as Tata AIr in 1932 flying mail and passengers from Karachi to Bombay during the British period. JRD Tata himself flew the maiden flight which is why Ratan Tata sees the return of the airline to the Tata Group with much optimism. Air India has 120 aircraft, 4400 domestic and 1800 international landing and parking slots. Problems at the airline led to losses of $3 million a day. It was nationalized in the 1950's. The Tata Group is India's largest steel producer, a major auto producer. It is India's largest conglomerate with $100 billion in sales, and employs 800,000 people in 100 countries.